Inflation in Saudi Arabia
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
|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 %||Mar 11|
|Stock Market||0.2||1.00 %||Mar 11|
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March 5, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, rose from 56.2 in January to 56.6 in February.
March 3, 2019
Oil prices continued to recover in February as the oil production cuts implemented by OPEC and key non-OPEC members continue to tighten global oil markets.
February 20, 2019
Consumer prices fell 0.3% over the previous month in January, following December’s 0.3% decline.
February 5, 2019
Oil prices recovered briskly in January after they plunged to an over one-year low in late December, with the OPEC oil basket trading at USD 61.2 per barrel on 31 January.
February 5, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, rose from 54.5 in December to 56.2 in January.