The annual inflation rate in Saudi Arabia rose to a nine-month high of 2.8% in November of 2018 from 2.4% in the previous month. Prices increased faster for: food & beverage (7.7% from 7.3% in October); transport (12.0% from 11.5%); furniture & household equipment (4.6% from 2.8%); recreation & culture (3.8% from 3.2%); miscellaneous goods & services (0.6% from 0.1%). In addition, prices fell less than in a month earlier for both housing & utilities (-3.1% from -3.6%) and clothing & footwear (-4.5% from -5%). On the other hand, inflation was steady for: tobacco (at 10.2%); education (at 0.2%); health (at 4%). Meanwhile, prices went up softer for: restaurant & hotels (8.6% from 8.7%); communication (1.3% from 1.4%). On a monthly basis, consumer prices went down 0.2%, after a 0.3% drop in October. Inflation Rate in Saudi Arabia averaged 2.63 percent from 2000 until 2018, reaching an all time high of 11.10 percent in July of 2008 and a record low of -2 percent in January of 2001.
Inflation Rate in Saudi Arabia is expected to be 2.10 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 2.10 in 12 months time. In the long-term, the Saudi Arabia Inflation Rate is projected to trend around 3.10 percent in 2020, according to our econometric models.