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Saudi Arabia Inflation February 2024

Saudi Arabia: Inflation comes in at highest level since August 2023 in February

Inflation ticked up to 1.8% in February from January’s 1.6%. February’s figure represented the highest inflation rate since August 2023. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a faster pace in February and prices for clothing and footwear were broadly steady from the previous month’s reading. Meanwhile, housing and utilities prices accelerated.

Annual average inflation ticked down to 2.1% in February (January: 2.2%).

Lastly, consumer prices increased 0.18% in February over the previous month, which was below January’s 0.26% increase.

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