Inflation in Saudi Arabia

Saudi Arabia Inflation (eop) | Economic News & Forecasts

Saudi Arabia - Inflation (end of period)

Inflation plummets in July as VAT effect fades

Consumer prices increased 0.20% over the previous month in July, marginally stronger than June’s 0.15% rise. July’s print reflected higher prices for food, education and recreation and culture.

In July, inflation dipped to 0.4% from 6.2% in June. The stark fall in inflation was 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 to 5.2% in July, down from 5.7% in the previous month.

FocusEconomics Consensus Forecast participants expect inflation to be 3.0% in 2021, which is unchanged from last month’s projection. The panel sees inflation averaging 1.9% in 2022.

Saudi Arabia - Inflation (eop) Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %, eop)1.2  1.0  -1.1  1.9  -0.2  

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Saudi Arabia Inflation (eop) 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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