Saudi Arabia: Inflation stabilizes in August
September 25, 2018
Consumer prices fell 0.2% over the previous month in August, contrasting July’s 0.1% rise. The decline was mainly due to lower prices for housing, water, electricity, gas and other fuels as well as for clothing and footwear and recreation and culture. August’s drop was partly offset by higher prices for restaurants and hotels.
In August, inflation was unchanged at July’s 2.2%. Meanwhile, the annual average variation in consumer prices increased from 1.0% in July to 1.3% in August, the highest level since March 2017.
Saudi Arabia Inflation Forecast
FocusEconomics Consensus Forecast participants expect inflation to average 3.1% in 2018, which is down 0.2 percentage points from last month’s projection. The panel sees inflation averaging 2.2% in 2019.