Saudi Arabia: Inflation drops to 31-month low in November
December 12, 2014
In November, consumer prices rose 0.23% over the previous month, which came in above the 0.15% increase registered in October. The monthly increase reflected higher prices for clothing and footwear as well as for household maintenance and furnishing.
Despite the monthly increase, annual inflation inched down from 2.6% in October to 2.5% in November, which marked the lowest level since April 2012. Annual average inflation also edged down, from 2.8% in October to 2.7% in November, which is the lowest level since May 2007.
Author: Ricardo Aceves, Senior Economist