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.