Inflation in Saudi Arabia
Saudi Arabia - Inflation
Inflation hits an eight-month high in November
Consumer prices fell 0.2% over the previous month in November, following October’s 0.3% decline. The drop was mainly due to lower prices for housing, water, electricity, gas and other fuels as well as for restaurants and hotels.
In November, inflation climbed from 2.4% in October to 2.8%, marking the highest reading in eight months. Meanwhile, the annual average variation in consumer prices increased from 1.8% in October to 2.2% in November, reaching the highest level since March 2015.
FocusEconomics Consensus Forecast participants expect inflation to average 2.1% in 2019, which is down 0.2 percentage points from last month’s projection. The panel sees inflation averaging 2.2% in 2020.
Saudi Arabia - Inflation Data
|Inflation Rate (CPI, annual variation in %)||3.5||2.2||1.2||2.1||-0.8|
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 %||Jan 16|
|Stock Market||0.2||1.00 %||Jan 16|
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January 10, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, fell from 55.2 in November to 54.5 in December.
January 2, 2019
On 26 December, OPEC oil prices fell to their lowest since September 2017 (USD 50.1 per barrel) due to concerns over excess supply.
December 31, 2018
Saudi Arabia’s economic recovery gathered steam in the third quarter on the back of higher oil prices and increased crude oil production.
December 24, 2018
Consumer prices fell 0.2% over the previous month in November, following October’s 0.3% decline.
Saudi Arabia: Government unveils an expansionary budget for 2019 despite the recent fall in oil prices
December 18, 2018
On 18 December Saudi Arabia presented its budget for 2019, which is the Kingdom’s largest ever in a bid to spur faltering economic growth.