Saudi Arabia Inflation

Saudi Arabia

Saudi Arabia: Inflation edges up in September

October 15, 2015

In September, consumer prices rose 0.30% over the previous month, which was slightly below the 0.38% increase registered in August. The monthly print mainly reflected lower prices for recreation and culture and a more moderate rise in prices of housing, water, electricity and gas compared to August.

Inflation came in at 2.3% in September, which was slightly above the 2.1% tallied in August. September’s print marked a nine-month high. Annual average inflation ticked down from August’s 2.3% to 2.2% in September, which marked the lowest rate since November 2006.

The Saudi Arabian Monetary Authority (SAMA) expects inflation to be 2.3% in 2015. FocusEconomics Consensus Forecast participants expect inflation to average 2.3% in 2015, which is down 0.1 percentage points over last month’s projection. For 2016, the panel sees inflation averaging 2.8%.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation September 2015

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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