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Saudi Arabia Inflation January 2019

Saudi Arabia: Consumer prices decline sharply in January

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

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