Saudi Arabia: Inflation jumps to an over-four-year high in March
April 25, 2016
In March, consumer prices rose 0.22% over the previous month, which contrasted the 0.07% decrease tallied in February. March’s increase mainly reflected much higher prices for tobacco and to a lesser extent in furnishing and households.
Inflation came in at 4.3% in March, which was a notch above February’s 4.2%. This represented the highest print since December 2011 as a result of subsidy cuts in energy and some utilities prices, which were implemented early in the year. Annual average inflation in March rose from February’s 2.5% to 2.7%, the highest rate in 16 months.