Saudi Arabia Inflation

Saudi Arabia

Saudi Arabia: Inflation inches down in August

September 11, 2015

In August, consumer prices rose 0.38% over the previous month, which was slightly above the 0.30% increase registered in July. The monthly print mainly reflected higher prices for food and beverages, transport as well as for housing, water, electricity and gas.

Inflation came in at 2.1% in August, which was a notch below the 2.2% tallied in July. As a result of the declining trend observed since the end of 2014, inflation remains at historically low levels. Annual average inflation stabilized at July’s 2.3% in August, 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 expect inflation to average 2.4% in 2015, which is down 0.1 percentage points over last month’s projection. For 2016, the panel sees inflation averaging 2.9%.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation August 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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