Saudi Arabia Inflation March 2019

Saudi Arabia

Saudi Arabia: Consumer prices decline for third consecutive month in March

April 24, 2019

Consumer prices fell 0.1% over the previous month in March, following February’s 0.2% decline. The drop was mainly due to lower prices for housing, water, electricity, gas and other fuels as well as for recreation and culture.

In March, consumer prices fell 2.1% in annual terms, up from the 2.2% drop in February. February’s print had represented the sharpest decline since April 1999. Meanwhile, the annual average variation in consumer prices declined from February’s 1.6% increase to a 1.2% rise in March.

FocusEconomics Consensus Forecast participants expect inflation to average 1.5% in 2019, which is unchanged from last month’s projection. The panel sees inflation averaging 2.0% in 2020.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

Saudi Arabia Inflation March 2019 1

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: General Authority for Statistics (GAS).

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