Inflation in Saudi Arabia

Saudi Arabia - Inflation
Inflation eases in December
Consumer prices decreased 0.22% over the previous month in December, sharper than November’s 0.1% dip. December’s print reflected falling food and beverage, clothing and footwear, and transportation prices.
In December, inflation eased to 5.3% from 5.8% in November. Elevated inflation in recent months has been due to the increase in the value-added tax rate from 5% to 15% in July. Meanwhile, annual average inflation increased to 3.5% in December, up from 3.0% in the previous month.
FocusEconomics Consensus Forecast participants expect inflation to be 2.9% in 2021, which is up 0.3 percentage points from last month’s projection. The panel sees inflation averaging 1.9% in 2022.
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 |
Saudi Arabia Inflation Chart

Source: Saudi Arabian Monetary Agency.
Saudi Arabia Facts
Value | Change | Date | |
---|---|---|---|
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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Economic News
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Saudi Arabia: Non-oil PMI rises marginally to a 14-month high in January
February 3, 2021
The Purchasing Managers’ Index (PMI), produced by IHS Markit, increased slightly from 57.0 in December to 57.1 in January, the highest reading since November 2019.
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Saudi Arabia: Inflation eases in December
January 15, 2021
Consumer prices decreased 0.22% over the previous month in December, sharper than November’s 0.1% dip.
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Saudi Arabia: Government announces smaller 2021 budget in bid to rein in deficit
January 11, 2021
In mid-December, the government announced the 2021 budget.
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Saudi Arabia: Non-oil PMI hits a 13-month high in December
January 5, 2021
The Purchasing Managers’ Index (PMI), produced by IHS Markit, increased from 54.7 in November to 57.0 in December, the highest reading in over one year.
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Saudi Arabia: Oil prices rise further in December; Saudi Arabia to cut production from February
January 4, 2021
Oil prices continued to rise over the last month, supported by positive developments on the Covid-19 vaccine front and solid Asian demand, notwithstanding tougher social distancing restrictions in many Western countries.