Saudi Arabia: Inflation eases in March
April 15, 2021
Consumer prices decreased 0.14% over the previous month in March, after February’s 0.13% fall. March’s print reflected falling prices for housing and utilities, and food and beverages.
In March, inflation fell to 4.9% from 5.3% in February. 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 4.5% in March, up from 4.2% in the previous month.
Author: Steven Burke, Economist