Inflation, consumer prices for Saudi Arabia
FPCPITOTLZGSAU • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.69
Year-over-Year Change
-41.11%
Date Range
1/1/1964 - 1/1/2024
Summary
This economic trend measures the inflation rate, or the change in consumer prices, for Saudi Arabia. It is a key indicator of economic stability and a factor in monetary policy decisions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Inflation, Consumer Prices for Saudi Arabia series tracks the rate of change in the prices of a basket of consumer goods and services in the Saudi Arabian economy. This metric is widely used by economists, policymakers, and investors to assess the country's macroeconomic conditions and inform economic forecasting.
Methodology
The data is collected through surveys of consumer expenditures and calculated as a price index.
Historical Context
Monitoring inflation trends is crucial for the Saudi Arabian government and central bank to maintain price stability and manage monetary policy effectively.
Key Facts
- Saudi Arabia is the largest economy in the Gulf Cooperation Council (GCC) region.
- Inflation in Saudi Arabia has remained relatively low and stable in recent years.
- The Saudi Arabian Monetary Authority (SAMA) uses the consumer price index as a key metric for setting monetary policy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the rate of change in consumer prices in Saudi Arabia, providing an indicator of the country's overall inflation rate.
Q: Why is this trend relevant for users or analysts?
A: Monitoring inflation is crucial for policymakers, investors, and economists to assess the health of the Saudi Arabian economy and inform economic decision-making.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and calculated as a price index by the Saudi Arabian government.
Q: How is this trend used in economic policy?
A: The Saudi Arabian Monetary Authority (SAMA) closely monitors the consumer price index to set monetary policy and maintain price stability in the country.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a relatively short lag, making it a timely indicator of economic conditions in Saudi Arabia.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for Saudi Arabia (FPCPITOTLZGSAU), retrieved from FRED.