Inflation in Saudi Arabia
Saudi Arabia - Inflation (end of period)
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 (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||1.2||1.0||-1.1||1.9||-0.2|
5 years of economic forecasts for more than 30 economic indicators.
Saudi Arabia Inflation (eop) Chart
Source: Saudi Arabian Monetary Agency.
Saudi Arabia Facts
|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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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.
January 15, 2021
Consumer prices decreased 0.22% over the previous month in December, sharper than November’s 0.1% dip.
January 11, 2021
In mid-December, the government announced the 2021 budget.
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.
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.