Saudi Arabia Inflation October 2017

Saudi Arabia

Saudi Arabia: The decline in consumer prices continues in October

November 21, 2017

Consumer prices fell 0.2% from the previous month in October, contrasting September’s 0.1% increase. The reading mainly reflected a decline in prices for transport, furnishings, household equipment and maintenance as well as for food and beverages.

On an annual basis, consumer prices decreased for a tenth consecutive month in October. The consumer price index decreased 0.2% year-on-year in October, a notch below September’s 0.1% drop, which had marked the smallest fall since February. Meanwhile, the annual average variation in consumer prices continued to trend lower, swinging from 0.2% in September to minus 0.1% in October, the weakest reading in over a decade.

FocusEconomics Consensus Forecast participants expect inflation to average 3.4% in 2018, which is up 0.3 percentage points from last month’s projection. For 2019, the panel sees inflation averaging 2.8%.

Author: Ricard Torné, Lead Economist

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Saudi Arabia Inflation Chart

Saudi Arabia Inflation October 2017 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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