Saudi Arabia Inflation

Saudi Arabia

Saudi Arabia: Inflation stabilizes in July

August 13, 2015

In July, consumer prices rose 0.30% over the previous month, which matched the result registered in June. The monthly print mainly reflected higher prices for furnishing and households as well as for health.

Inflation came in at 2.2% in July, which was in line with the print tallied in June and, thus, remained at a five-month high. As a result of the declining trend observed since the end of 2014, inflation remains at historically low levels. Annual average inflation fell in July, falling from 2.4% in June to 2.3%, 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 July 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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