Saudi Arabia Inflation September 2016

Saudi Arabia

Saudi Arabia: Inflation eases in September

October 24, 2016

Saudi consumer prices were flat in September compared to the previous month, following the 0.1% decrease recorded in August. September’s reading mainly reflected that higher prices for clothing and for food and beverages were offset by lower prices for recreation and culture and for transport.

Inflation came in at 3.0% in September, which was below August’s 3.3%. Although the reading represented the lowest print so far this year, inflation remains at relatively high levels due to cuts in subsidies for energy and some utilities that had been implemented early in the year. Annual average inflation stabilized at August’s 3.5% in September, thereby remaining at the highest rate in nearly three years.

FocusEconomics Consensus Forecast participants expect inflation to average 3.9% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees inflation averaging 3.6%, which is also unchanged from last month’s estimate.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation September 2016

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Central Department of Statistics & Information (CDSI).

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