“Increase in prices, especially that of food, is usually what keeps us from saving a portion of our income each month,” said Samia, a Saudi mother of five.

“I always buy the same brands and quantity of items from the same supermarket each month and have noticed that what used to cost SR210 has gone up to SR280,” she added. It has increasingly become difficult for Saudis who earn meager salaries to meet basic costs such as rent and food because of prices continually skyrocketing. “I only make SR3,000 a month and have been hit hard by the recent price increases,” said Mohammed, an accountant at a local firm. “I don’t know what to do. I think the Ministry of Commerce should play a larger role in balancing prices and helping major companies import for less,” he said.

A recent rise in the inflation rate from 4.1 percent in January up to 4.6 percent last month, now the highest rate since June of last year, is what is currently being blamed for the price hikes.

According to Statistics from the Central Statistics Department in the Ministry of Economy and Planning, consumer prices rose in the six major categories of rent, fuel and water to 10.6 percent, services 5.8 percent, food and beverages 4.0 percent, house furniture 3.0 percent, education and recreation 1.1 percent, and health care 0.1 percent. According to a report from the Saudi Arabian Monetary Agency (SAMA), the main sector responsible for the rise in inflation over the January to February period was food prices.

“Global food prices over the past few months have been steadily increasing but this is not necessarily unique to Saudi Arabia,” said Dr. John Sfakianakis, group general manager and chief economist at Banque Saudi Fransi.

The main driver behind the rise in food prices in the Kingdom is the factor that it is a major importer of goods and food. The Kingdom currently imports between 70-80 percent of its food needs from abroad.

When asked if the rise in prices is linked to the recent increase in oil prices as was the case in 2008, Sfakianakis said, “I don’t believe we are there yet because if you remember two years ago prices rose because producers were passing on the cost of high oil prices as related to production of their goods to the consumer. However, at a little over $80 a barrel currently I don’t believe this is happening yet,” he said, adding that oil prices are currently at a good level for both producers and consumers. Recommending a way Saudi families could brave the increase in prices, the chief economist said that local consumers should learn how to shop around.

“Currently, it is not wise to merely go shopping and think that one can just find a good deal on certain items. Consumers should always look at the market and refer to the Ministry of Commerce’s website to compare the prices of staple food items,” he said.