Inflation reports
Inflation reports
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Wed, 22 February 2017Inflation Update
The General Authority for Statistics (Gastat) has released the Consumer Price Index data for January, showing negative growth in prices by 0.4 percent year-on-year, the first monthly deflation in twelve years. Looking ahead, we expect inflation to remain subdued in the first six months of 2017, before another hike in household electricity prices pushes up inflation during the second half of 2017.
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Mon, 29 August 2016
Inflation Update- July 2016: (Inflation continues to slow)
The General Authority for Statistics (GAS) has released Consumer Price Index data for July, showing a deceleration in prices to 3.8 percent year-on-year compared to 4.1 percent in June. Food inflation turned negative for the first time since January 2010, while housing remained as the main contributor to overall inflation during July.
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Wed, 24 February 2016
Inflation Update (January 2016): New energy prices push inflation to a 5-year high
The General Authority for Statistics (GAS) has released Consumer Price Index data for January, showing a sharp rise in prices by 4.3 percent year-on-year, accelerating from 2.3 percent during the previous month. The recent reform to energy prices meant that housing and utilities and transport were the main sources of inflation as they accelerated sharply in January, both in year-on-year and monthly terms. Our estimate of core inflation, which excludes food and rent and other housing services, but includes transport, rose to its highest level in three years.
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Tue, 16 June 2015
Inflation Update- (May 2015):Inflation remains subdued ahead of Ramadan
The Central Department of Statistics and Information (CDSI) has released Consumer Price Index data for May, showing a small acceleration in prices to 2.1 percent year-on-year, compared to 2.0 percent in April. In month-on-month terms, prices slowed to 0.1 percent in May compared to 0.3 percent in April. Foodstuffs rose year-on-year but recorded a slowdown in monthly terms as well. Housing inflation continued to be the major contributor to overall inflation. Our estimate of core inflation remained unchanged.
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Tue, 21 April 2015
Inflation Update- (March 2015): CPI slows for the Seventh consecutive month
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The Central Department of Statistics and Information (CDSI) has released Consumer Price Index data for March, showing a deceleration in prices to 2.0 percent year-on-year compared to 2.1 percent in February. Foodstuffs continued to slow as the deflationary trend in international food prices grew further. Housing remained the major contributor to overall inflation despite a slowdown in March. Our estimate of core inflation, which excludes food and rent and other housing services, remained almost unchanged at 2 percent since the start of 2015. -
Mon, 19 January 2015
Inflation update (December 2014) : Inflation averaged 2.7 percent in 2014
The Central Department of Statistics and Information (CDSI) has released Consumer Price Index data for December, showing a deceleration in prices to 2.4 percent year-on-year. Overall inflation for 2014 averaged 2.7 percent, down from 3.5 percent in 2013 with most components of the headline index recording a slowdown. We expect inflation to be subdued throughout 2015. External factors’ contribution to inflation will remain weak, particularly given a strengthening USD and the weaker prospects of global economic growth. We thus estimate an average annual inflation rate of 2.6 percent for 2015.
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Wed, 29 October 2014
Inflation update (September 2014): Food and rental inflation accelerate
The Central Department of Statistics and Information (CDSI) has released Consumer Price Index data for September, showing a rise in prices by 2.8 percent year-on-year, staying at the same level compared to the previous month. Foodstuffs and housing have continued to be the main sources of inflation as they all accelerated in August and September. We expect external factors’ contribution to inflation to remain subdued, particularly given a strengthening USD and the bleaker prospects of global economic growth. We revise our estimates for average annual inflation to 2.8 percent for 2014, slightly down from 2.9 percent.
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Tue, 15 July 2014
Inflation report (June 2014): Surprise decline in food inflation
According to the Central Department of Statistics and Information (CDSI), Saudi Arabia’s inflation rate remained unchanged at 2.7 percent, year-on-year, for the third consecutive month in June. Food prices surprised with a decline of 0.2 percent month-on-month, though this segment still remain the second largest contributor to annual inflation, after rental and housing related services.
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Thu, 17 April 2014
Inflation report (March 2014): Headline CPI inflation continues to fall
Saudi Arabia’s inflation rate fell for the fourth consecutive month in March, reaching 2.6 percent year-on-year compared with 2.8 percent in the previous month. Lower food price inflation was the main reason for the decline, while rental inflation picked up slightly.
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Sun, 16 March 2014
Inflation report (February 2014): Headline CPI inflation at 4-year low
Headline inflation in the Kingdom fell to a four year low of 2.8 percent year-on-year in February compared with 2.9 percent in the previous month. The core inflation also fell to below 1.5 percent for the first time since April 2011.
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