Inflation rates in Saudi Arabia remain stable compared to G20 countries and most countries worldwide.
The Consumer Price Index (CPI) reached 2 per cent in August 2023, down from July 2023, remaining relatively stable on a yearly basis.
This stability is due to the robustness of the national economy and the early economic procedures and measures taken by Saudi Arabia to counter the global rise in inflation rates.
Inflation in Saudi Arabia
In August 2023, the inflation rate showed relative stability at 2 per cent compared to August 2022.
The CPI measures consumers’ prices for a fixed basket of goods and services consisting of 490 items.
The respective prices are collected through field visits to points of sale in the Kingdom.
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