Palm trees and buildings in Saudi Arabia

Saudi Arabia Inflation

Saudi Arabia Inflation

Inflation in Saudi Arabia

From 2013 to 2022, Saudi Arabia's inflation rates were generally mild, dampened by government price controls and subsidies. That said, inflation spiked briefly in 2018 due to VAT implementation, and has been propped up post-Covid by higher international commodity prices and global supply constraints.

Consumer price inflation in Saudi Arabia averaged 1.8% in the ten years to 2022, below the Middle East & North Africa regional average of 5.4%. The 2022 average figure was 2.5%. For more inflation information, visit our dedicated page.

Saudi Arabia Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Saudi Arabia from 2014 to 2023.

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

Inflation comes in at highest level since November 2023 in January

Inflation ticked up to 1.6% in January, slightly above December’s 1.5%. January's reading was the highest inflation rate since November 2023. Looking at the details of the release, housing and utilities prices rose at a quicker pace in January compared to the previous month, while price pressures for clothing and footwear remained weak. Annual average inflation fell to 2.2% in January (December: 2.3%). Lastly, consumer prices increased 0.26% in January over the previous month, picking up from the 0.08% increase logged in December. January's result was the highest reading since April 2023.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Saudi Arabian inflation projections for the next ten years from a panel of 25 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Saudi Arabian inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Saudi Arabian inflation projections.

Want to get access to the full dataset of Saudi Arabian inflation forecasts? Send an email to

Latest Global Inflation News

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest