Inflation reports

Inflation reports

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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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    Thu, 15 August 2013

    Inflation report (July 2013): Annual food inflation at 4-year high

    The Central Department of Statistics and Information released Consumer Price Index inflation data for July, showing inflation at 3.7 percent year-on-year compared with 3.5 percent in June, pushed up by higher food and rental inflation while the core index maintained downward trend. As expected, food inflation increased further in July to a 4-year high owing to a seasonal trend while strong housing demand kept the upside trend of rental inflation. International conditions provide a benign backdrop to inflation in the Kingdom particularly food prices though downward pressure is likely to be limited given strong domestic inflationary factors.

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    Mon, 15 July 2013

    Inflation report (June 2013): CPI at 3.5 percent and no signs of cost-push

    The Central Department of Statistics and Information released Consumer Price Index inflation data for June, showing inflation at 3.5 percent in June compared with 3.8 percent in May, pushed down by falling core inflation and food prices while rent and housing-related services component remained flat. Our estimate of Saudi core inflation, which excludes food and rental and housing-related services, maintained its downward trend for the fourth consecutive month to record 2.2 percent year-on-year. Food inflation is expected to increase further in July owing to a seasonal trend while strong housing demand will keep the upside risk to rental inflation.

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    Sun, 16 June 2013

    Inflation Report- May 2013

    According to latest CPI data, Saudi Arabia’s inflation for May slowed to 3.8 percent year-on-year brought down by a significant fall in the core index to 2.6 percent. Despite slowing core inflation, the food and rent/housing components accelerated in May and remained the main contributors to headline inflation. While domestic inflationary pressure is likely to persist, we see the current inflationary trend as more of a demand-pull inflation rather than a cost-push inflation caused by recent labor market reform initiatives. 

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    Sun, 19 May 2013

    Inflation Report- April 2013

    The Central Department for Statistic and Information released Consumer Price Index inflation data for April, showing prices slightly rising to 4 percent year-on-year compared with 3.9 percent in the previous three months. This level of inflation remains among the highest inflation rates relative to the Kingdom’s main trading partners. Our estimate of Saudi core inflation, which excludes food and housing-related services, also eased to 3.4 percent year-on-year in April compared with 3.5 percent in March. A major highlight of April inflation print is the food prices acceleration to 6.2 percent year-on-year compared with 5.3 percent in March.

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    Wed, 17 April 2013

    Inflation report- March 2013

    Saudi CPI inflation maintained the 3.9 percent year-on-year increase for the third consecutive month in March. It slightly increased to 0.3 percent on a monthly basis. Our estimate of core inflation, which excludes food and housing-related services, slowed in March after a 5-month period of a positive trend.

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    Sat, 16 February 2013

    Inflation report- January 2013

    According to the latest report by the Central Department for Statistics and Information, inflation in the Kingdom has accelerated to 4.2 percent year-on-year in January this year, the highest level since July 2012. Our measure of core inflation has also accelerated to 2.7 percent in January compared with 2.1 percent in December.

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