Saudi Arabia: Inflation hits nearly one-year low in November
December 19, 2016
Saudi consumer prices declined 0.2% in November compared to the previous month, following the 0.1% decline in October and marking the lowest reading in nearly a decade. November’s result mainly reflected lower prices for clothing, food and beverages, and furnishing and households.
Inflation came in at 2.3% in November, below October’s 2.6%. The reading represented the lowest print so far this year. Annual average inflation remained stable for the third consecutive month at 3.5% in November, a nearly three-year high.