Saudi Arabia Inflation

Saudi Arabia

Saudi Arabia: Inflation picks up in June

July 9, 2015

In June, consumer prices rose 0.30% over the previous month, which doubled the 0.15% increase registered in May.

Annual inflation came in at 2.2% in June, which was a tad above the 2.1% tallied in May and marked a five-month high. Despite the increase, inflation remains at historically low levels. Annual average inflation stabilized in June, remaining at the previous month’s 2.4%, which marked the lowest rate since December 2006.

The Saudi Arabian Monetary Authority (SAMA) expects inflation to be 2.3% in 2015. FocusEconomics Consensus Forecast participants expect inflation to average 2.4% in 2015, which is down 0.1 percentage points over last month’s projection. For 2016, the panel sees inflation averaging 2.9%.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation June 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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