Saudi Arabia Inflation March 2018

Saudi Arabia

Saudi Arabia: Inflation moderates in March

April 24, 2018

Consumer prices fell 0.2% from the previous month in March, contrasting February’s 0.1% increase. The decline largely reflected lower prices for food and beverages and housing, water, electricity and gas.

Inflation softened from 3.0% in the first two months of the year to 2.8% in March. January and February had represented the highest readings in over four years due to the introduction of a value-added tax. Meanwhile, the annual average variation in consumer prices rose from minus 0.3% in February to zero in March.

According to the 2018 budget unveiled in December 2017, the government expects inflation to reach 5.7% in 2018. FocusEconomics Consensus Forecast participants expect inflation to average 3.5% in 2018, which is down 0.1 percentage points from last month’s projection. The panel sees inflation averaging 2.5% in 2019.

Author:, Economist

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Saudi Arabia Inflation Chart

Saudi Arabia Inflation March 2018

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

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