Saudi Arabia Inflation January 2019

Saudi Arabia

Saudi Arabia: Consumer prices decline sharply in January

February 20, 2019

Consumer prices fell 0.3% over the previous month in January, following December’s 0.3% decline. The drop was mainly due to lower prices for housing, water, electricity, gas and other fuels as well as for clothing and footwear.

In January, consumer prices fell 1.9% in annual terms, the sharpest decline since January 2001. January’s print contrasted the 2.2% increase in December. Meanwhile, the annual average variation in consumer prices declined from 2.5% in December to 2.1% in January.

Along with the complete absorption of the VAT in January 2018, January’s weak print reflected subdued domestic demand.

Saudi Arabia Inflation Forecast


FocusEconomics Consensus Forecast participants expect inflation to average 2.0% in 2019, which is down 0.1 percentage points from last month’s projection. The panel sees inflation averaging 2.2% in 2020.


Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart


Saudi Arabia Inflation January 2019 0

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


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