Saudi Arabia Inflation

Saudi Arabia

Saudi Arabia: Inflation in November recedes from October's a nearly one-year high

December 10, 2015

In November, consumer prices rose 0.07% over the previous month, which was below the 0.30% increase tallied in the previous month. The softer increase in prices mainly reflected a decline in costs for communications, food and beverages as well as for transportation.

Inflation came in at 2.3% in November, which was slightly below the 2.4% tallied in October. October’s print had marked an 11-month high. Annual average inflation in November was stable 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 November 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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