Saudi Arabia: Inflation increases in November
December 15, 2021
Consumer prices increased 0.21% over the previous month in November, which was slightly softer than October’s 0.25% increase. November’s print reflected falling prices for clothing and footwear, and household furniture, which was offset by higher transportation and food prices relative to the previous month.
In November, inflation rose to 1.1% from 0.8% in October. Inflation remains relatively low due to the fading impact of the value-added tax rate, which was increased from 5% to 15% back in July 2020. Meanwhile, annual average inflation decreased from 3.8% in October, to 3.4% in November.
Author: Steven Burke, Economist