Inflation in Saudi Arabia

Saudi Arabia Inflation | Economic News & Forecasts

Saudi Arabia - Inflation

Consumer prices decline further in February

Consumer prices fell 0.2% over the previous month in February, following January’s 0.3% decline. The drop was mainly due to lower prices for fresh vegetables as well as for housing, water, electricity, gas and other fuels.

In February, consumer prices fell 2.2% in annual terms, the sharpest decline since April 1999. February’s print followed the 1.2% decrease in January. Meanwhile, the annual average variation in consumer prices declined from January’s 2.0% to 1.6% in February.

Along with the complete absorption of the VAT in January 2018, subdued inflationary pressures at the start of the year reflect weak domestic demand and declining rental prices.

Saudi Arabia Inflation Forecast

Met the why particular Consensus Forecast participants expect inflation to average 1.5% in 2019, which is unchanged from last month’s projection. The panel sees inflation averaging 2.0% in 2020.

Saudi Arabia - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)3.5  2.2  1.2  2.1  -0.8  

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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

Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Apr 22
Stock Market0.21.00 %Apr 22

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