Annual inflation rate in Saudi Arabia increased to 2.7% in July of 2022 from 2.3% in June. It was the highest inflation rate since June 2021, due to a faster rise in prices of both transport (3.6% vs 2.5%) mainly purchase of motor cars (4.2%); and housing, water, electricity, gas, and other fuels (2.0% vs 1%), mainly rents for housing (2.1%). Main upward pressures also came from food and beverages (3.9%), namely meat (5.1%); personal goods and services (2.1% vs 2.4%), mainly wedding hall rental (+22.0%); education (5.7%), namely secondary education (10.1%); restaurants and hotels (6.3%). Meanwhile, prices dropped for clothing and footwear (-1.2%), namely garments (-1.5%). Compared to the previous month, consumer prices were up 0.5%, the most since July 2020, after a 0.2% rise in June. source: Central Department of Statistics & Information, Saudi Arabia
Inflation Rate in Saudi Arabia averaged 2 percent from 2000 until 2022, 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 2022.
Inflation Rate in Saudi Arabia is expected to be 2.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Saudi Arabia Inflation Rate is projected to trend around 2.00 percent in 2023, according to our econometric models.