Saudi Arabia Inflation June 2016

Saudi Arabia

Inflation stabilizes in June

Consumer prices rose 0.3% in June compared to the previous month, which was up from the flat reading recorded in May. June’s figure mainly reflected higher prices for clothing and communication as well as for furnishings and households.

Inflation came in at 4.1% in June, which was in line with May’s print. Inflation remains at high levels due to cuts in subsidies for energy and some utilities that had been implemented early in the year. Annual average inflation in June rose from May’s 3.1% to 3.2%, the highest rate in over two years.

FocusEconomics Consensus Forecast participants expect inflation to average 3.8% in 2016, which is unchanged over last month’s projection. For 2017, the panel sees inflation averaging 3.5%.

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Saudi Arabia Inflation Chart

SaudiArabia Inflation June 2016 0

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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