Palm trees and buildings in Saudi Arabia

Saudi Arabia Inflation February 2018

Saudi Arabia: Inflation holds steady at an over four-year high in February

Consumer prices rose 0.1% from the previous month in February, decelerating sharply from January’s all-time high increase of 3.9%. The moderation largely reflected lower prices for transport and recreation and culture largely offsetting higher prices for food and beverages, and restaurants and hotels. That said, February’s soft reading comes after the introduction of a 5% Value-Added Tax (VAT) and government hiked domestic gasoline prices in January, which pushed up last month’s figure considerably.

Inflation was stable at January’s 3.0% in February, the highest reading in over four years. Meanwhile, the annual average variation in consumer prices rose to minus 0.3% in February from minus 0.5% in January.

Last month, the General Authority for Statistics changed the base year for the consumer price index from 2007 to 2013 and adjusted the basket of goods and services.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest