Saudi Arabia Inflation November 2017

Saudi Arabia

Saudi Arabia: Inflation returns in November

December 26, 2017

Consumer prices rose 0.1% from the previous month in November, contrasting October’s 0.2% decrease. The reading mainly reflected higher prices for communication, transport and furnishings, household equipment and maintenance.

On an annual basis, consumer prices rose for the first time in eleven months in November, increasing a mild 0.1% (October: -0.2% year-on-year). Meanwhile, the annual average variation in consumer prices continued to trend lower, falling from minus 0.1% in October to minus 0.3% in November, the lowest reading in over a decade.

FocusEconomics Consensus Forecast participants expect inflation to average 3.4% in 2018, which is up 0.1 percentage points from last month’s projection. The panel sees inflation averaging 2.9% in 2019.

Author: Ricard Torné, Lead Economist

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