Inflation in Saudi Arabia

Saudi Arabia Inflation | Economic News & Forecasts

Saudi Arabia - Inflation

Inflation ticks down in August

Consumer prices increased 0.07% over the previous month in August, weaker than July’s 0.15% rise. August’s print reflected falling prices for transport, and clothing and footwear relative to the previous month, which was somewhat offset by higher food and beverage prices.

In August, inflation ticked down to 0.3% from 0.4% in July. Subdued inflation in recent months was due to the fading impact of the value-added tax rate, which was increased from 5% to 15% back in July 2020. Meanwhile, annual average inflation decreased to 4.7% in August, down from 5.2% in the previous month.

FocusEconomics Consensus Forecast participants expect inflation to be 3.0% in 2021, which is unchanged from last month’s projection. The panel sees inflation averaging 1.9% in 2022.

Saudi Arabia - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)1.2  2.1  -0.8  2.5  -2.1  

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Saudi Arabia Inflation Chart


Saudi Arabia Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Saudi Arabian Monetary Agency.

Saudi Arabia Facts

Value Change Date
Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Dec 31
Stock Market0.21.00 %Jan 07

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