Saudi Arabia Inflation

Saudi Arabia

Saudi Arabia: Inflation tumbles to an over eight-year low in December

January 14, 2015

In December, consumer prices rose 0.08% over the previous month. The print came in below the 0.23% increase registered in November and represented the weakest monthly gain in seven months. The monthly deceleration reflected a drop in prices for food and beverages as well as for communication.

Annual inflation inched down from 2.5% in November to 2.4% in December, which marked the lowest rate since September 2006. In the full year 2014, inflation averaged 2.7%, which was down from 3.5% in 2013. 2014’s reading represented the lowest yearly inflation since 2006.

FocusEconomics Consensus Forecast participants expect inflation to average 3.4% in 2015, which is up 0.5 percentage points over last month’s projection. For 2016, the panel sees inflation averaging also 3.4%.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

SaudiArabia Inflation December 2014 0

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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