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.

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Saudi Arabia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-15 06:00 AM Nov 2.9% 3% 2.9% 2.9%
2023-01-15 06:00 AM Dec 3.3% 2.9% 3% 2.9%
2023-02-15 06:00 AM Jan 3.3% 3.2%


Related Last Previous Unit Reference
Inflation Rate 3.30 2.90 percent Dec 2022
Consumer Price Index CPI 108.53 108.25 points Dec 2022
Food Inflation 4.20 3.50 percent Dec 2022
Producer Prices Change 3.00 4.00 percent Dec 2022
Producer Prices 148.60 148.90 points Dec 2022
Inflation Rate MoM 0.30 0.10 percent Dec 2022
CPI Transportation 119.19 118.70 points Dec 2022
CPI Housing Utilities 93.89 93.02 points Dec 2022
GDP Deflator 119.50 103.72 points Dec 2021

Saudi Arabia Inflation Rate
In Saudi Arabia, the most important categories in the Consumer Price Index are: Housing, Water, Electricity, Gas & Other Fuels (26%), Food & Beverages (19%), and Transport (13%). The index also includes: Miscellaneous Goods & Services (13%), Furnishings, Household Equipment & Routine Household (7%), Communications (6%), Restaurants & Hotels (6%), Clothing & Footwear (4%), Recreation & Culture (3%), Education (3%), Health (1%), and Tobacco (1%).
Actual Previous Highest Lowest Dates Unit Frequency
3.30 2.90 11.10 -5.00 2000 - 2022 percent Monthly
2018=100

News Stream
Saudi Arabia Inflation Rate at 1-1/2-Year High of 3.3%
The annual inflation rate in Saudi Arabia increased to 3.3% in December 2022 from 2.9% in the previous month, beating market expectations of 3%. It was the highest inflation rate since June 2021 due to faster advances in housing, food, and transport prices. Prices accelerated for 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), boosted primarily by food prices (4.3%) such as 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 motor car purchases (+5.0%). By contrast, prices fell for both personal goods and services (-0.4% vs -0.4%); and clothing and footwear (-1.4% vs -1.3%). On a monthly basis, consumer prices jumped by 0.3%, the most in three months, after edging up 0.1% in November.
2023-01-15
Saudi Arabia Inflation Rate Edges Lower
The annual inflation rate in Saudi Arabia edged lower to 2.9% in November 2022 from 3% in the previous month and matching market expectations. Costs mainly slowed for food & beverages (3.5% vs 4.4% in October), furnishings, household equipment & maintenance (0.6% vs 0.9%), transport (4% vs 4.4%) and recreation & culture (2% vs 2.9%). Meanwhile, prices accelerated considerably for housing and utilities (4.7% vs 3.3%), amid rising costs of actual rentals. On the other hand, personal goods and services declined (-0.4% vs 0.9%), due to decrease in charges to bring domestic helpers, while clothing and footwear remained at -1.3%, as garment prices fell. On a monthly basis, consumer prices grew by 0.1%, after a 0.2% gain in October.
2022-12-15
Saudi Inflation Rate Slightly Eases from 15-Month High
The annual inflation rate in Saudi Arabia slightly eased to 3% in October 2022 from a 15-month high of 3.1% in September as prices continued to rise at a faster pace for food. The cost of food and beverages surged by 4.4% driven particularly by meat prices (6.1%). Additional pressures came from housing and utilities (3.3%), pushed by the increase in housing rentals (3.7%); transport (4.4%), namely purchases of motor cars (5.8%). Also, cost rose for personal goods and services (0.9%), driven by the rise in wedding hall rentals (8.5%); restaurant and hotels (6.8%), due to increase in catering services (6.8%); and recreation and culture (2.9%), mainly from rentals of rest houses & camps (15.1%). On the other hand, costs of clothing and footwear fell by 1.2%, due to a decrease in garment prices (-2.5%). On a monthly basis, consumer prices rose by 0.2%, after increasing by 0.3% in the previous month.
2022-11-15