Inflation in Saudi Arabia
Saudi Arabia - Inflation
Consumer prices post smallest drop in 10 months in October
Consumer prices rose 0.2% over the previous month in October, matching September’s result. The print mainly reflected that higher prices for housing and utilities were offset by lower transportation costs.
In October, consumer prices fell 0.3% in annual terms, above the 0.7% drop in September and the softest decline so far this year. Meanwhile, the annual average variation in consumer prices declined from September’s minus 0.6% to minus 0.8% in August.
FocusEconomics Consensus Forecast participants expect inflation to be 1.6% in 2020, which is unchanged from last month’s projection. The panel sees inflation averaging 2.1% in 2021.
Saudi Arabia - Inflation Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 3.5 | 2.2 | 1.2 | 2.1 | -0.8 |
Saudi Arabia Inflation Chart
Source: Saudi Arabian Monetary Agency.
Saudi Arabia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.49 | 0.0 % | Jun 23 |
| Exchange Rate | 3.75 | 0.0 % | Dec 31 |
| Stock Market | 0.2 | 1.00 % | Jan 07 |
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Economic News
Saudi Arabia: Oil prices surge in early January on mounting geopolitical risks
January 13, 2020
Oil prices jumped in the aftermath of the assassination of Iranian Major General Qasem Soleimani by a targeted U.S. drone strike on 3 January, as markets were anticipating retaliation from Iran.
Saudi Arabia: Non-oil PMI declines to five-month low in December
January 5, 2020
The Purchasing Managers’ Index (PMI), produced by IHS Markit, declined from November’s 58.3 to 56.9 in December.
Saudi Arabia: GDP contracts for first time in nearly two years in Q3 on oil production cuts
December 31, 2019
The economy contracted for the first time since Q4 2017 in the third quarter as oil production cuts in compliance with the OPEC+ deal and a terrorist attack on Saudi oil facilities in mid-September weighed on oil production throughout the quarter.
Saudi Arabia: Non-oil PMI continues to climb in November
December 5, 2019
The Purchasing Managers’ Index (PMI), produced by IHS Markit, jumped from October’s 57.8 to 58.3 in November.
Saudi Arabia: Oil prices recover in November; Aramco announces IPO for December
November 26, 2019
Oil prices steadily increased in recent weeks, supported by optimism linked to talks of a “phase one” trade deal between China and the United States, as well as expectations that OPEC+ production cuts will be extended.
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