Inflation in Saudi Arabia

Saudi Arabia Inflation | Economic News & Forecasts

Saudi Arabia - Inflation

Inflation increases in November

Consumer prices increased 0.21% over the previous month in November, which was slightly softer than October’s 0.25% increase. November’s print reflected falling prices for clothing and footwear, and household furniture, which was offset by higher transportation and food prices relative to the previous month.

In November, inflation rose to 1.1% from 0.8% in October. Inflation remains relatively low due to the fading impact of the value-added tax rate, which was increased from 5% to 15% back in July 2020. Meanwhile, annual average inflation decreased from 3.8% in October, to 3.4% in November.

FocusEconomics Consensus Forecast participants expect inflation to be 1.8% in 2022, which is unchanged from last month’s projection. The panel sees inflation averaging 1.8% in 2023.

Saudi Arabia - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)1.2  2.1  -0.8  2.5  -2.1  

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Saudi Arabia Inflation Chart

Saudi Arabia Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Saudi Arabian Monetary Agency.

Saudi Arabia Facts

Value Change Date
Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Dec 31
Stock Market0.21.00 %Jan 07

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