Saudi Arabia Inflation

Saudi Arabia

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.

FocusEconomics Consensus Forecast participants expect inflation to be at 2.9% in 2014, which is unchanged over last month’s projection. For 2015, the panel sees inflation rising to 3.4%, which is down 0.1 percentage points from last month’s estimate.

Author:, Senior Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation October 2014

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Bureau of Statistics (NBS).

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