Saudi Arabia Inflation February 2021

Saudi Arabia

Saudi Arabia: Inflation eases in February

March 15, 2021

Consumer prices decreased 0.13% over the previous month in February, contrasting January’s 0.22% rise. February’s print reflected falling prices for housing and utilities, and clothing and footwear.

In February, inflation fell to 5.3% from 5.7% in January. Elevated inflation in recent months has been due to the increase in the value-added tax rate from 5% to 15% back in July 2020. Meanwhile, annual average inflation increased to 4.2% in February, up from 3.9% 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 February 2021

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

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