Saudi Arabia: Inflation eases in December
Consumer prices decreased 0.22% over the previous month in December, sharper than November’s 0.1% dip. December’s print reflected falling food and beverage, clothing and footwear, and transportation prices.
In December, inflation eased to 5.3% from 5.8% in November. 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 3.5% in December, up from 3.0% in the previous month.