Saudi Arabia: Inflation declines to lowest level since January 2022 in December
Inflation came in at 1.5% in December, which was down from November’s 1.7%. December’s figure marked the lowest inflation rate since January 2022. The moderation was broad-based, with reduced price pressures recorded for food and non-alcoholic beverages, clothing and footwear, and housing and utilities. Moreover, prices for transport dropped.
Annual average inflation fell to 2.3% in December (November: 2.5%).
Lastly, consumer prices rose 0.08% over the previous month in December, a smaller increase than the 0.18% increase logged in November. December’s result marked the weakest reading since September.