The annual inflation rate in Saudi Arabia edged down to 1.6% in March 2024 from a six-month high of 1.8% and missing market forecasts of 1.9%. Main downward pressure came from food & beverages (0.9% vs 1.3%), recreation & culture (0.7% vs 1.6%), and restaurants & hotels (2.4% vs 2.5%). Moreover, deflation continued for transport (-1.8% vs -0.9%), tobacco (-1.1% vs -0.9%), furnishings, household equipment & maintenance (-3.2% vs -3%), health (-0.9% vs -0.8%), and communications (-2% vs -1.8%). Meanwhile, prices increased at a faster pace for housing & utilities (8.8% vs 8.5%) and remained unchanged for clothing & footwear (-4%) and personal goods & services (-1.1%). On a monthly basis, consumer prices tumbled 0.1% in March 2024, following a 0.2% rise in the previous month. source: General Authority for Statistics, Saudi Arabia

Inflation Rate in Saudi Arabia decreased to 1.60 percent in March from 1.80 percent in February of 2024. Inflation Rate in Saudi Arabia averaged 2.03 percent from 2000 until 2024, 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 May of 2024.

Inflation Rate in Saudi Arabia decreased to 1.60 percent in March from 1.80 percent in February of 2024. Inflation Rate in Saudi Arabia is expected to be 1.50 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 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-14 06:30 AM
Inflation Rate YoY
Feb 1.8% 1.6% 1.8% 1.7%
2024-04-15 06:00 AM
Inflation Rate YoY
Mar 1.6% 1.8% 1.9% 1.9%
2024-05-15 06:00 AM
Inflation Rate YoY
Apr 1.6% 1.5%


Related Last Previous Unit Reference
Consumer Price Index CPI 110.53 110.64 points Mar 2024
CPI Housing Utilities 104.01 103.28 points Mar 2024
CPI Transportation 116.29 117.10 points Mar 2024
Food Inflation 0.93 1.28 percent Mar 2024
GDP Deflator 119.50 103.72 points Dec 2021
Inflation Rate YoY 1.60 1.80 percent Mar 2024
Inflation Rate MoM -0.10 0.20 percent Mar 2024
Producer Prices 154.80 154.30 points Mar 2024
Wholesale Prices YoY 3.80 3.10 percent Mar 2024

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
1.60 1.80 11.10 -5.00 2000 - 2024 percent Monthly
2018=100


News Stream
Saudi Arabia Inflation Rate Ticks Lower, Misses Forecast
The annual inflation rate in Saudi Arabia edged down to 1.6% in March 2024 from a six-month high of 1.8% and missing market forecasts of 1.9%. Main downward pressure came from food & beverages (0.9% vs 1.3%), recreation & culture (0.7% vs 1.6%), and restaurants & hotels (2.4% vs 2.5%). Moreover, deflation continued for transport (-1.8% vs -0.9%), tobacco (-1.1% vs -0.9%), furnishings, household equipment & maintenance (-3.2% vs -3%), health (-0.9% vs -0.8%), and communications (-2% vs -1.8%). Meanwhile, prices increased at a faster pace for housing & utilities (8.8% vs 8.5%) and remained unchanged for clothing & footwear (-4%) and personal goods & services (-1.1%). On a monthly basis, consumer prices tumbled 0.1% in March 2024, following a 0.2% rise in the previous month.
2024-04-15
Saudi Arabia Inflation Rate at 6-Month High
The annual inflation rate in Saudi Arabia increased to 1.8% in February 2024 from 1.6% in the previous month and in line with market forecasts. It was the highest reading since August 2023, as prices went up for food and beverages (1.3% vs 1% in January), housing and utilities (8.5% vs 7.8%), recreation and culture (1.6% vs 1.4%), and restaurants and hotels (2.5% vs 2.4%). At the same time, deflation softened for clothing and footwear (-4% vs -4.1%), furnishings and household equipment (-3% vs -3.3%), transport (-0.9% vs -1.9%), and communication (-1.8% vs -1.9%). On a monthly basis, consumer prices grew 0.2%, edging lower from a 0.3% rise in January.
2024-03-14
Saudi Arabia Inflation Picks Up, Matches Forecast
The annual inflation rate in Saudi Arabia slightly rose to 1.6% in January 2024, in line with market expectations, from 1.5% in the previous month. Prices advanced for housing & utilities (7.8% vs 7.5% in December 2023), recreation & culture (1.4% vs 1%), and education (1.2% vs 0.8%). Meanwhile, costs softened for food & beverages (1% vs 1.2%) and restaurants & hotels (2.4% vs 2.5%). Deflation were also observed in transport (-1.1% vs -1.3%), miscellaneous personal goods & services (-1.1% vs -0.5%), communication (-1.9% vs -2.7%), furnishings & household equipment (-3.3% vs -3.2%), clothing & footwear (-4.1% vs -4.2%), and health (-0.8% vs -0.4%). On a monthly basis, consumer prices increased by 0.3% in January, slightly more than market forecasts of a 0.2% rise and following a 0.1% advance in December.
2024-02-15