Saudi Arabia Inflation December 2017

Saudi Arabia

Saudi Arabia: Inflation gathers pace in December

January 23, 2018

Consumer prices declined 0.1% from the previous month in December, contrasting November’s 0.1% rise. The reading was driven mainly by lower prices for clothing and footwear, and recreation and culture.

Inflation rose to 0.4% in December after consumer prices turned positive for the first time in 2017 in November, with inflation of 0.1%. Meanwhile, the annual average variation in consumer prices continued to trend lower, falling from minus 0.1% in November to a one-decade low of minus 0.2% in December.

According to the 2018 budget unveiled in December 2017, the government expects inflation to reach 5.7% in 2018. FocusEconomics Consensus Forecast participants expect inflation to average 3.6% in 2018, which is up 0.2 percentage points from last month’s projection. The panel sees inflation averaging 2.7% in 2019.

Author:, Economist

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Saudi Arabia Inflation Chart

Saudi Arabia Inflation December 2017

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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