Inflation Rate in Saudi Arabia Stabilizes at 1.6% over Past 3 Months

The annual inflation rate in the Kingdom of Saudi Arabia has remained stable at 1.6 percent over the past three months, showing relative stability on an annual basis. The inflation rate in Saudi Arabia is one of the most stable, which confirms the strength and durability of the Saudi economy. It also demonstrates the effectiveness of economic plans and decisions that the Kingdom rushed to take early on to confront the wave of global inflation and high prices. The Consumer Price Index (CPI) reflects the changes in prices paid by consumers for a fixed basket of goods and services consisting of 490 items. This basket was selected based on the household income survey conducted in 2018. The prices are collected through field visits to points of sale. The CPI statistics of the consumer price index in the Kingdom are published monthly. Source: Qatar News Agency