Inflation in Saudi Arabia

Saudi Arabia Inflation | Economic News & Forecasts

Saudi Arabia - Inflation

Consumer prices decline sharply in January

Consumer prices fell 0.3% over the previous month in January, following December’s 0.3% decline. The drop was mainly due to lower prices for housing, water, electricity, gas and other fuels as well as for clothing and footwear.

In January, consumer prices fell 1.9% in annual terms, the sharpest decline since January 2001. January’s print contrasted the 2.2% increase in December. Meanwhile, the annual average variation in consumer prices declined from 2.5% in December to 2.1% in January.

Along with the complete absorption of the VAT in January 2018, January’s weak print reflected subdued domestic demand.

Saudi Arabia Inflation Forecast

FocusEconomics Consensus Forecast participants expect inflation to average 2.0% in 2019, which is down 0.1 percentage points from last month’s projection. The panel sees inflation averaging 2.2% in 2020.

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  

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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

Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Mar 11
Stock Market0.21.00 %Mar 11

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