The annual inflation rate in Saudi Arabia increased to 3.3% in December 2022 from 2.9% in the previous month and beating market expectations of 3%. It was the highest inflation rate since June 2021, due to faster rises in housing, food and transport prices. Prices mainly accelerated for both housing and utilities (5,9% vs 4.7%), amid rising costs of actual rentals, while prices of food and & beverages gained by 4.2% (vs 3.5% in November), mainly due to food prices (4.3%), in particular meat and poultry prices (5.9%). At the same time, transport prices climbed 4.1%, after a 4.0% rise in November, mainly due to the increase in purchase of motor cars prices by 5.0%. By contrast, prices fell for both personal goods and services (-0.4% vs -0.4%); clothing and footwear (-1.4% vs -1.3%), due to the decline in garment prices (-2.4%). On a monthly basis, consumer prices rose by 0.3%, the most in three months, after edging up 0.1% in November. source: Central Department of Statistics & Information, Saudi Arabia
Inflation Rate in Saudi Arabia averaged 2.02 percent from 2000 until 2022, reaching an all time high of 11.10 percent in July of 2008 and a record low of -5.00 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 2023.
Inflation Rate in Saudi Arabia is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.