Saudi Arabia Inflation December 2020

Saudi Arabia

Saudi Arabia: Inflation eases in December

January 15, 2021

Consumer prices decreased 0.22% over the previous month in December, sharper than November’s 0.1% dip. December’s print reflected falling food and beverage, clothing and footwear, and transportation prices.

In December, inflation eased to 5.3% from 5.8% in November. Elevated inflation in recent months has been due to the increase in the value-added tax rate from 5% to 15% in July. Meanwhile, annual average inflation increased to 3.5% in December, up from 3.0% in the previous month.

FocusEconomics Consensus Forecast participants expect inflation to be 2.9% in 2021, which is up 0.3 percentage points from last month’s projection. The panel sees inflation averaging 1.9% in 2022.

Author:, Economist

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Saudi Arabia Inflation Chart

Saudi Arabia Inflation December 20 20

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: General Authority for Statistics (GAS).

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