Saudi Arabia: Inflation falls to lowest level in over two years
November 26, 2014
In October, consumer prices rose 0.15% over the previous month, which mirrored the increase observed in September. The monthly increase showed that rising prices for food and non-alcoholic beverages as well as for clothing compensated for lower prices for housing, water, electricity and gas.
Annual inflation fell from 2.8% in September to 2.6% in October, which marked the lowest level May 2012. Annual average inflation stabilized at September’s 2.8% in October and stands at its lowest level since May 2007.
Author: Ricardo Aceves, Senior Economist