Saudi Arabia: Inflation unchanged in November
December 15, 2020
Consumer prices decreased 0.10% over the previous month in November, contrasting October’s 0.07% increase. November’s print reflected a broad-based decline in prices.
In November, inflation was unchanged at 5.8%. Elevated inflation in recent months has been due to the increase in the value-added tax rate from 5% to 15% in July. Meanwhile, annual average inflation increased to 3.0% in November, up from 2.4% in October.
Author: Steven Burke, Economist