Saudi Arabia Inflation October 2016

Saudi Arabia

Saudi Arabia: Downward trend in inflation persists in October

November 22, 2016

Consumer prices declined 0.1% in October compared to the previous month, following the flat reading in September. October’s result mainly reflected lower prices for food and beverages, transport, health, and recreation and culture.

Inflation came in at 2.6% in October, which was below September’s 3.0%. The reading represented the lowest print so far this year. Annual average inflation remained stable for the second consecutive month at 3.5% in October, which represented the highest reading in nearly three years.

FocusEconomics Consensus Forecast participants expect inflation to average 3.9% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees inflation averaging 3.6%, which is also unchanged from last month’s estimate.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation October 2016

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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