The annual inflation rate in Saudi Arabia stood at 2.7% yoy in April of 2023, the same pace as in the previous month and above market expectations of 2.5%. Food inflation rose the least in 16 months (1% vs 2.3% in March), link with the decrease in milk, milk products & eggs (10.9% vs 14.1%), and prices moderated for transport (1.1% vs 1.8%), restaurants & hotels (6.2% vs 6.3%), education (3% vs 3.1%) and health (0.7% vs 1.1%). Also, inflation was steady for communication (at -0.4%), while cost declined for clothing & footwear (-2.1% vs -2.2%), resulting from a slump in garments prices (-3.7%). By contrast, prices accelerated for housing & utilities (8.1% vs 7.4%), amid rising costs of actual rentals (9.6% vs 8.7%) and prices of recreation & culture surged 3.1% (vs 0.6%), mainly due to an increase in package holidays of 12.6% (vs 4.5%). On a monthly basis, the CPI rose 0.4%, after a 0.1% gain in March, and compared to market forecasts of 0.2%. source: Central Department of Statistics & Information, Saudi Arabia

Inflation Rate in Saudi Arabia averaged 2.03 percent from 2000 until 2023, 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 June of 2023.

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 2024, according to our econometric models.

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Saudi Arabia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-13 12:00 PM Mar 2.7% 3% 2.8% 2.8%
2023-05-15 06:00 AM Apr 2.7% 2.7% 2.5% 2.5%
2023-06-15 06:00 AM May 2.7% 2.4%


Related Last Previous Unit Reference
Inflation Rate 2.70 2.70 percent Apr 2023
Consumer Price Index CPI 109.16 108.74 points Apr 2023
Food Inflation 1.00 2.34 percent Apr 2023
Producer Prices Change 0.20 1.10 percent Apr 2023
Producer Prices 149.20 149.20 points Apr 2023
Inflation Rate MoM 0.40 0.10 percent Apr 2023
CPI Transportation 118.34 118.41 points Apr 2023
CPI Housing Utilities 96.03 95.58 points Apr 2023
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
2.70 2.70 11.10 -5.00 2000 - 2023 percent Monthly
2018=100

News Stream
Saudi Arabia Inflation Rate Steady at 2.7% in April
The annual inflation rate in Saudi Arabia stood at 2.7% yoy in April of 2023, the same pace as in the previous month and above market expectations of 2.5%. Food inflation posted the least increase in 16 months (1% vs 2.3% in March), link with the decrease in milk, milk products & eggs (10.9% vs 14.1%), and prices moderated for transport (1.1% vs 1.8%), restaurants & hotels (6.2% vs 6.3%), education (3% vs 3.1%) and health (0.7% vs 1.1%). Also, inflation was steady for communication (at -0.4%), while cost declined for clothing & footwear (-2.1% vs -2.2%), resulting from a slump in garments prices (-3.7%). By contrast, prices accelerated for housing & utilities (8.1% vs 7.4%), amid rising costs of actual rentals (9.6% vs 8.7%) and prices of recreation & culture surged 3.1% (vs 0.6%), mainly due to an increase in package holidays of 12.6% (vs 4.5%). On a monthly basis, the CPI rose 0.4%, after a 0.1% gain in March, and compared to market forecasts of 0.2%.
2023-05-15
Saudi Arabia Inflation Rate Slows for 2nd Month
The annual inflation rate in Saudi Arabia eased for a second straight month to 2.7% in March of 2023 from 3% in the previous month, and slightly below market expectations of 2.8%. This was the softest reading since June 2022, as prices rose at a slower pace for food & beverages (2.3% vs 3.1% in February), transport (1.8% vs 2.7%), recreation & culture (0.6% vs 0.9%) and restaurants & hotels (6.3% vs 6.5%). At the same time, inflation was steady for education (at 3.1%), health (at 1.1%), clothing & footwear (at -2.2%) and communication (at -0.4%). Also, cost continued to fell for furnishings, household equipment & maintenance (-1.5% vs -1%) and personal goods & services (-0.4% vs -0.6%). By contrast, cost accelerated for housing & utilities (7.4% vs 7%), mainly rents for apartments (22% vs 21.4%). On a monthly basis, consumer prices rose by 0.1%, after a 0.1% drop in February, and in line with market forecasts.
2023-04-13
Saudi Arabia Inflation Rate Slows in February
The annual inflation rate in Saudi Arabia eased to 3% in February of 2023 from 3.4% in the previous month. Prices rose at a slower pace for food & beverages (3.1% vs 4.2% in January), transport (2.7% vs 3.8%), recreation & culture (0.9% vs 1.1%) and health (1.1% vs 1.2%), while inflation was steady for education (at 3.1%) and restaurants & hotels (at 6.5%). Meanwhile, cost fell for personal goods & services (-0.6% vs 0.4%), furnishings, household equipment & maintenance (-1% vs 0.2%), communication (-0.4% vs -0.2%) and clothing & footwear (-2.2% vs -1.6%). On the other hand, cost accelerated for housing & utilities (7% vs 6.6%), mainly rents for apartments (21.4% vs 19.3%). On a monthly basis, consumer prices slumped by 0.1%, the first decline since December of 2021, after a 0.2% gain in January.
2023-03-15