Saudi Arabia Inflation

Saudi Arabia

Saudi Arabia: Inflation hits a nearly one-year high in October

November 14, 2015

In October, consumer prices rose 0.30% over the previous month, which matched the result tallied in the previous month. The print mainly reflected much higher prices for education as well as a more moderate increase in clothing and recreation and culture.

Inflation came in at 2.4% in October, which was slightly above the 2.3% tallied in September. October’s print marked an 11-month high. Annual average inflation in October stabilized at the previous month’s 2.2%, thereby remaining at the lowest rate since November 2006.

The Saudi Arabian Monetary Authority (SAMA) expects inflation to be 2.3% in 2015. FocusEconomics Consensus Forecast participants are in line with Saudi authorities and expect inflation to average 2.3% in 2015, which is unchanged over last month’s projection. For 2016, the panel sees inflation averaging 2.8%, which is also unchanged from last month’s estimate.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation October 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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