The annual inflation rate in Saudi Arabia edged down to 2.2% in May of 2022 from 2.3% in the previous month, and below market expectations of a 2.5% gain, amid a softer rise in prices of food and beverages (4.2% vs 4.3%), transport (4.0% vs 4.6%), and personal goods and services (2.1% vs 2.8%). Meanwhile, prices of housing, water, electricity, gas, and other fuels continued to rise (0.5% vs 0.2% in April), as a result of the increase in rents for housing by 0.5%. Also, prices increased further for education (6.2% vs 6.2%), restaurants and hotels (4.1% vs 3.2%), and furnishing, household equipment & maintenance (1.8% vs 1.4%). By contrast, prices of clothing and footwear continued to fall (-1.7% vs -0.7%). On a monthly basis, consumer prices inched up 0.1%, the least in five months, and compared to market consensus of a 0.4% growth. 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 July of 2022.
Inflation Rate in Saudi Arabia is expected to be 2.30 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.