Saudi Arabia Inflation

Saudi Arabia

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.

FocusEconomics Consensus Forecast participants expect inflation to average 3.4% in 2015, which is up 0.5 percentage points over last month’s projection. For 2016, the panel sees inflation averaging also 3.4%.

Author:, Senior Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation November 2014

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Bureau of Statistics (NBS).

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