Inflation in Saudi Arabia
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
|Inflation Rate (CPI, annual variation in %)||1.2||2.1||-0.8||2.5||-2.1|
5 years of economic forecasts for more than 30 economic indicators.
Saudi Arabia Inflation Chart
Source: Saudi Arabian Monetary Agency.
Saudi Arabia Facts
|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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January 3, 2022
The Purchasing Managers’ Index (PMI), produced by IHS Markit, ticked down from 56.9 in November to 53.9 in December.
December 15, 2021
Consumer prices increased 0.21% over the previous month in November, which was slightly softer than October’s 0.25% increase.
November 23, 2021
A flash estimate showed that the economy grew 6.8% on an annual basis in the third quarter, after rebounding and expanding 1.8% in the second quarter.
November 4, 2021
The Purchasing Managers’ Index (PMI), produced by IHS Markit, ticked down from 58.6 in September to 57.7 in October.
October 28, 2021
On 28 October, the OPEC oil basket traded at USD 84.5 per barrel, up 8.7% from the prior month.