Consumer Price Inflation 2024

Consumer price inflation (CPI) in Saudi Arabia is compiled by GASTAT and reflects housing, transport, food, and administered price components. Moderate inflation in 2024 supported real wage discussions and household purchasing power relative to earlier global shocks.

Businesses pricing B2B contracts in SAR should index assumptions to official CPI sub-indices where relevant and monitor VAT treatment via ZATCA guidance in Motaded Library. Retail and F&B operators in Tourism sector corridors should watch tourism-season demand spikes separately from national CPI.

Forecast discipline

Use GASTAT monthly CPI releases for board reporting; avoid mixing GCC-wide estimates with KSA-specific administered fuel and utility pricing mechanics.