Saudi Arabia Inflation
Inflation moderates slightly in June
Inflation came in at 2.7% in June, which was down from May’s 2.8%. The weaker reading was largely due to lower price pressures for recreation and culture, as well as weaker textile prices.
Annual average inflation was unchanged at May’s 2.9% in June.
Lastly, consumer prices increased 0.19% in June over the previous month, mirroring May’s reading. June’s result marked the joint-weakest reading since March.
The Saudi authorities have kept an iron grip on inflation this year thanks to a cap on petrol prices and rising interest rates. Our panelists expect price pressures to continue to ease for the remainder of this year. Supply-chain bottlenecks and rapidly growing demand in the non-oil sector pose upside risks.
Saudi Arabia Inflation Chart
This chart displays Inflation Rate (CPI, annual variation in %) for Saudi Arabia from 2013 to 2022.
Saudi Arabia Inflation Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.5 | -2.1 | 3.4 | 3.1 | 2.5 |
| Inflation (CPI, ann. var. %, eop) | 1.9 | -0.2 | 5.3 | 1.2 | 3.3 |
| Inflation (WPI, ann. var. %, eop) | 15.7 | 3.7 | 5.2 | 13.3 | 3.0 |