Saudi Arabia's consumer prices up 3% in August on higher food, transport

Saudi Arabia's consumer price index rose 3% in August from a year earlier, official data showed on Thursday, accelerating from a 2.7% pace in July.

Food and beverages and transport prices were again the main driver of inflation in August, both rising 4%, the General Authority for Statistics said in a statement. Meat prices were up 6.7%, pushing up food and beverages, which make up 18.8% of the consumer basket.

Prices were up 0.4% on a monthly basis in August, a fractional slowdown from the 0.5% month-on-month rise in July.

"The monthly CPI was affected by the increase of food and beverage prices by 0.8%, mainly due to the increase in food prices by 0.9%," the statistics agency said.