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.