Saudi Arabia Inflation

Saudi Arabia

Saudi Arabia: Decline in inflation continues at the start of the year

February 12, 2015

In January, consumer prices were flat over the previous month. The print came in below the 0.08% increase registered in December and represented the weakest reading since January 2012. The monthly result reflected that a drop in prices for food and beverages, transport as well as for clothing was offset by higher prices in most of the remaining categories.

Annual inflation fell from 2.4% in December to 2.2% in January, which marked the lowest rate since June 2006. Annual average inflation inched down from 2.7% in December to 2.6% in January, which represented the lowest level since March 2007.

The SAMA expects inflation to average 3.2% in 2015. FocusEconomics Consensus Forecast participants expect inflation to average 2.8% in 2015, which is down 0.3 percentage points over last month’s projection. For 2016, the panel sees inflation averaging 3.1%.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation January 2015

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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