Saudi Arabia Inflation July 2016

Saudi Arabia

Saudi Arabia: Inflation falls in July

August 21, 2016

Consumer prices rose 0.1% in July compared to the previous month, which was down from the 0.3% reading recorded in June. July’s deceleration mainly reflected lower prices for food and construction products.

Inflation came in at 3.8% in July, which was below June’s 4.1% print. Inflation remains at high levels due to cuts in subsidies for energy and some utilities that had been implemented early in the year. Annual average inflation in July rose from June’s 3.2% to 3.4%, the highest rate in over two years.

FocusEconomics Consensus Forecast participants expect inflation to average 3.8% in 2016, which is unchanged over last month’s projection. For 2017, the panel sees inflation averaging 3.5%.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation July 2016 0

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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