Saudi Arabia Inflation November 2021

Saudi Arabia

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.

FocusEconomics Consensus Forecast participants expect inflation to be 1.8% in 2022, which is unchanged from last month’s projection. The panel sees inflation averaging 1.8% in 2023.

Author:, Economist

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Saudi Arabia Inflation Chart

Saudi Arabia Inflation November 2021

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: General Authority for Statistics (GAS).

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