Inflation in Saudi Arabia

Saudi Arabia Inflation | Economic News & Forecasts

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  

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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

Value Change Date
Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Dec 31
Stock Market0.21.00 %Jan 07

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