Saudi inflation accelerates in October for 2nd month in a row

Saudi Arabia’s inflation rate is on the rise for the second month in a row.  The annual inflation rate reached 0.8 percent in October, up from September’s 0.6 percent.

The Kingdom’s inflation rate is now also higher than its 20-month low in August when it stood at 0.3 percent. On a monthly basis, the inflation rate was 0.25 percent in October, slightly up from September’s 0.2 percent.

The Kingdom’s inflation to edge higher in the coming months. However, it will remain within the range of 1 to 2 percent in 2022-23. 

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