Annual inflation rate in Saudi Arabia increased to 5.7 percent in January of 2021 from 5.3 percent in the previous month, reflecting the impact of a hike in VAT rate in July 2020. Inflation accelerated for both transport (9.6 percent vs 6.9 percent in December 2020) and communication (13.8 percent vs 11.4 percent), while clothing & footwear inflation was steady (at 6.1 percent). Meantime, inflation eased for food & non-alcoholic beverages (12.3 percent vs 12.7 percent); miscellaneous goods & services (5.6 percent vs 6.1 percent); furnishings (7.4 percent vs 7.5 percent); tobacco (12.0 percent vs 13.7 percent) and restaurants & hotels (6.9 percent vs 7.5 percent). In addition, housing & utilities prices dropped less (-0.9 percent vs -1.5 percent). On the other hand, prices of education continued to fall (-9.8 vs -8.6 percent). On a monthly basis, consumer prices were up 0.2 percent, after declining by 0.2 percent in the previous month. source: Central Department of Statistics & Information, Saudi Arabia
Inflation Rate in Saudi Arabia averaged 1.96 percent from 2000 until 2021, 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.