Saudi Arabia Inflation May 2016

Saudi Arabia

Saudi Arabia: Inflation inches down, but remains high in May

June 20, 2016

Consumer prices were flat in May compared to the previous month, down from the 0.2% increase tallied in April. May’s reading mainly reflected lower prices for clothing, food and beverages and a slower rise in prices for health.

Inflation came in at 4.1% in May, which was a notch below April’s result of 4.2%. Inflation remains at high levels due to cuts in subsidies for energy and some utilities, which were implemented early in the year. Annual average inflation in May rose from April’s 2.9% to 3.1%, the highest rate in over two years.

FocusEconomics Consensus Forecast participants expect inflation to average 3.7% in 2016, which is up 0.1 percentage points over last month’s projection. For 2017, the panel sees inflation averaging 3.4%.


Author:, Economist

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SaudiArabia Inflation May 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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