Riyadh, January 15, 2024, In December 2023, the Consumer Price Index (CPI) in Saudi Arabia stood at 1.5%, exhibiting a slight decrease compared to the 1.7% recorded in November. This annual figure indicates a relative moderation in inflation rates.
The dip in the CPI is interpreted as a positive signal, underscoring the resilience of the Saudi economy and the effectiveness of economic measures adopted by the Kingdom in addressing the global upswing in inflation rates.
The Consumer Price Index is derived from a fixed basket of 490 goods and services, serving as a metric to gauge changes in consumer prices. The data for this index is collected through visits to retail outlets, where relevant price information is gathered. The regular monitoring and reporting of the CPI contribute to a comprehensive understanding of economic trends and consumer behavior, guiding policymakers in their efforts to maintain economic stability and address inflationary pressures.
