Saudi Arabia's annual inflation rate decreased to 0.5 percent in June of 2020 from 1.1 percent in the previous month, before the value-added tax was tripled from 5 percent to 15 percent on 1st July. It was the lowest inflation rate since deflation ended in December of 2019, as prices slowed for food & beverage (6.7 percent vs 7 percent in May): miscellaneous goods & services (1.8 percent vs 2.4 percent) and restaurants & hotels (0.2 percent vs 0.6 percent). In addition, cost fell further for housing& utilities (-0.7 percent vs -0.4 percent); transport (-5.2 percent vs -3.8 percent); clothing & footwear (-1.1 percent vs -0.9 percent) and communication (-0.6 percent vs -0.8 percent), Meantime, inflation was steady for furnishing & household equipment (at 1.4 percent). On a monthly basis, consumer prices went down 0.3 percent, the third monthly fall and following a 0.2 percent drop in May.
Inflation Rate in Saudi Arabia averaged 1.85 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 August of 2020. source: Central Department of Statistics & Information, Saudi Arabia
Inflation Rate in Saudi Arabia is expected to be 0.20 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 2.70 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.