Saudi Arabia's annual inflation rate dropped to 1.3% in April of 2020 from 1.5% in the previous month, as the pandemic crisis affected consumer spending. Prices slowed mostly for recreation & culture (0.7% vs 0.9% in March); restaurants & hotels (0.7% vs 1.3%) and clothing & footwear (0.2% vs 0.3%). In addition, costs decreased for transport (-0.4% vs 3.7%); housing & utilities (-0.5%, the same pace as in March); communication (-0.6%, the same pace as in March) and health (-0.3% vs -0.2%). In contrast, inflation picked up for food & non-alcoholic beverages (6.1% vs 3.9%). On a monthly basis, consumer prices went down 0.1%, after increasing 0.1% in the prior month.
Inflation Rate in Saudi Arabia averaged 1.86 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 May of 2020. source: Central Department of Statistics & Information, Saudi Arabia
Inflation Rate in Saudi Arabia is expected to be 0.60 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 1.90 in 12 months time. In the long-term, the Saudi Arabia Inflation Rate is projected to trend around 2.30 percent in 2021 and 2.20 percent in 2022, according to our econometric models.