Saudi inflation rose to 6.2% y/y in June but it will fall sharply in July to around 1.0 y/y as the effects of last year’s VAT hike fall out of the annual price comparison. Inflation is likely to hover around 1.0-1.5% y/y over the rest of this year and in 2022-23, although the possibility of VAT cut presents a downside risk.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.