Annual inflation rate in Saudi Arabia declined to 5.3 percent in December of 2020, the least since June, from 5.8 percent in the previous month. Food & non-alcoholic beverages inflation eased to 3-month low of 12.7 percent in December from 13 percent in November, while transport inflation slowed to 6.9 percent from 8 percent. Also, inflation declined for both miscellaneous goods & services (6.1 percent vs 7.3 percent) and furnishings (7.5 percent vs 7.6 percent). Meanwhile, inflation accelerated for tobacco (13.7 percent vs 13.3 percent); communication (11.4 percent vs 11.1 percent); restaurants & hotels (7.5 percent vs 7.1 percent); and clothing & footwear (6.1 percent vs 6 percent). On the other hand, prices fell further for education (-8.6 percent, the same pace as in November) and housing & utilities (-1.5 percent vs -0.8 percent).On a monthly basis, consumer prices were down 0.2 percent, after declining 0.1 percent in the previous month. source: Central Department of Statistics & Information, Saudi Arabia
Inflation Rate in Saudi Arabia averaged 1.95 percent from 2000 until 2020, reaching an all time high of 11.10 percent in July of 2008 and a record low of -5 percent in December of 2018. This page provides - Saudi Arabia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Saudi Arabia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Inflation Rate in Saudi Arabia is expected to be 5.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Saudi Arabia to stand at 6.00 in 12 months time. In the long-term, the Saudi Arabia Inflation Rate is projected to trend around 5.00 percent in 2022, according to our econometric models.