Saudi Arabia Inflation November 2018

Saudi Arabia

Saudi Arabia: Inflation hits an eight-month high in November

December 24, 2018

Consumer prices fell 0.2% over the previous month in November, following October’s 0.3% decline. The drop was mainly due to lower prices for housing, water, electricity, gas and other fuels as well as for restaurants and hotels.

In November, inflation climbed from 2.4% in October to 2.8%, marking the highest reading in eight months. Meanwhile, the annual average variation in consumer prices increased from 1.8% in October to 2.2% in November, reaching the highest level since March 2015.

FocusEconomics Consensus Forecast participants expect inflation to average 2.1% in 2019, which is down 0.2 percentage points from last month’s projection. The panel sees inflation averaging 2.2% in 2020.


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Saudi Arabia Inflation Chart

Saudi Arabia Inflation November 2018

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: General Authority for Statistics (GAS).

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