Saudi Arabia Inflation

Saudi Arabia

Saudi Arabia: Inflation inches up in May

June 11, 2015

In May, consumer prices rose 0.15% over the previous month, which halved the 0.30% increase registered in April. The monthly print mainly reflected higher prices for transport and communications, which were partially offset by a decline in prices for clothing and health.

Annual inflation came in at 2.1% in May, which was a tad above the 2.0% tallied in April. Despite the increase, inflation remains at historically low levels. Annual average inflation also decreased in May, falling from 2.5% in April to 2.4% in May, which marked the lowest rate since December 2006.

FocusEconomics Consensus Forecast participants expect inflation to average 2.7% in 2015, which is down 0.1 percentage points over last month’s projection. For 2016, the panel sees inflation averaging 3.1%.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation May 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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