Inflation Rate In Saudi Arabia
The inflation rate for consumer prices in saudi arabia moved over the past 40 years between 3 2 and 9 9.
Inflation rate in saudi arabia. The statistic shows the inflation rate in saudi arabia from 1984 to 2019 with projections up until 2021. The inflation rate in saudi arabia between 1996 and 2020 was 52 85 which translates into a total increase of 52 85. For 2019 an inflation rate of 2 1 was calculated.
In 2019 the average inflation rate amounted to 1 21 percent compared to the previous year. After that a fall followed a growth several times. 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.
Inflation gdp deflator annual saudi arabia from the world bank. Saudi arabia economic news. The consumer price inflation in saudi arabia topped out in 2011.
The purchasing managers index pmi produced by ihs markit decreased to 47 7 in june from 48 1 in may. Saudi arabia inflation rate for 2019 was 2 09 a 4 55 decline. The average annual inflation rate between these periods was 1 78.
Annual report evaluation form. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals such as yearly. Non oil pmi ticks down in june conditions continue to worsen.
Oil prices continue rise in june july as opec output drops to two decade lows. Gross domestic product growth rate. This means that 100 riyal in 1996 are equivalent to 152 85 riyal in 2020.
Weekly point of sales transactions. During the observation period from 1979 to 2019 the average inflation rate was 1 5 per year. For the analysis of the other g20 economies select a country page.
In other words the purchasing power of 100 in 1996 equals 152 85 in 2020. Data learn how the world bank group is helping countries with covid 19 coronavirus. Imf predicts fluctuation to continue in two following years but then the inflation rate will remain constant of 2 1.
