Saudi Arabia Inflation November 2016

Saudi Arabia

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.

FocusEconomics Consensus Forecast participants expect inflation to average 3.9% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees inflation averaging 3.6%, which is also unchanged from last month’s estimate.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation November 2016

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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