Annual inflation rate in Saudi Arabia increased to 6.2% in June of 2021, the highest reading since August last year, from 5.7% in May, still reflecting a VAT increase to 15% from 5% in July of 2020. Biggest upward pressure came from prices of transport (22.6%), namely purchasing vehicles (10.6%) and operating of personal transport equipment prices (56.2%); and food and beverages (8.1%), mainly due to the increase in prices of food (8.0%). Other upward pressure came tobacco prices (12.3%); communication services (13.2%); furniture, household equipment and household maintenance (7.9%); miscellaneous goods and services (4.5%), mainly resulting from an increase in prices of jewelry, clocks and watches (13.7%). On the other hand, prices fell for education (-9.1%); housing and utilities (-2.3%), mainly actual rentals for housing (-3.4%). On a monthly basis, consumer prices were up 0.2%. source: Central Department of Statistics & Information, Saudi Arabia
Inflation Rate in Saudi Arabia averaged 2.03 percent from 2000 until 2021, 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 2021.
Inflation Rate in Saudi Arabia is expected to be 1.20 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 2.10 in 12 months time. In the long-term, the Saudi Arabia Inflation Rate is projected to trend around 2.00 percent in 2022, according to our econometric models.