Saudi Arabia Inflation April 2016

Saudi Arabia

Inflation in April recedes slightly from March's multi-year high

In April, consumer prices rose 0.20% over the previous month, which followed the 0.22% increase tallied in March. April’s increase mainly reflected higher prices for tobacco, clothing and footwear as well as for health.

Inflation came in at 4.2% in April, which was a notch below March’s multi-year high of 4.3%. Inflation remains at high levels due to subsidy cuts in energy and some utilities prices, which were implemented early in the year. Annual average inflation in April rose from March’s 2.7% to 2.9%, the highest rate in nearly two years.

FocusEconomics Consensus Forecast participants expect inflation to average 3.6% in 2016, which is down 0.1 percentage points over last month’s projection. For 2017, the panel sees inflation averaging 3.4%.

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Saudi Arabia Inflation Chart

SaudiArabia Inflation April 2016

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Central Department of Statistics & Information (CDSI).

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