Inflation Rate In Saudi Arabia 2020

Saudi arabia inflation rate for 2019 was 2 09 a 4 55 decline from 2018. Annual inflation rate in saudi arabia edged up to 6 2 percent in august of 2020 from 6 1 percent in july reaching the highest rate since february of 2009 after the government raised the vat rate to 15 percent from 5 percent in july. This page provides saudi arabia inflation rate mom actual values historical data forecast chart statistics economic calendar and news.

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Gdp contracts in q1 at the sharpest pace in over two years.

Inflation rate in saudi arabia 2020. Inflation rate currently selected. The biggest upward pressure came from prices of food and beverages 13 5 percent namely meat 17 3 percent and vegetables 17 8 percent. Saudi arabia inflation rate for 2017 was 0 84 a 2 91 decline from 2016.

The economy contracted for the third consecutive quarter in q1 and at the sharpest pace since december 2017 as a significant slowdown in the non oil sector and ongoing oil production cuts weighed on activity. In 2019 the average inflation rate amounted to 1 21 percent compared to the previous year. Saudi arabia s inflation accelerated to 6 2 in august 2020 according to recent data by the general authority for statistics gastat.

Saudi arabia inflation rate for 2016 was 2 07 a 0 86 increase from 2015. The authority said that the acceleration in consumer price inflation was due to an increase in value added tax vat from 5 to 15 on july 1 which had a general impact on annual inflation. The historical framework of the currency of saudi arabia.

Oil prices continue to. Oil prices recovered noticeably over the past month hitting a roughly four month high as production cuts in may june curtailed supply and easing lockdown measures in most parts of the world supported demand prospects. Gdp contracts in q1 at the sharpest pace in over two years.

The statistic shows the inflation rate in saudi arabia from 1984 to 2019 with projections up until 2021. Inflation rate mom in saudi arabia averaged 0 16 percent from 1999 until 2020 reaching an all time high of 5 90 percent in july of 2020 and a record low of 3 percent in january of 2018. Saudi arabia inflation rate for 2018 was 2 46 a 3 3 increase from 2017.