The Consumer Price Index stood at 1.5% in December 2023, which is lower than the previous month (November 2023), when it stood at 1.7%, marking a slight year-over-year decline.

inflation in the Kingdom are stable compared to G20 countries and most other nations, reflecting the stability and resilience of the Saudi economy, as well as the effectiveness of the economic measures the Kingdom moved quickly to implement early on to counter the global wave of rising prices.

It is worth noting that the Consumer Price Index (CPI) reflects changes in the prices consumers pay for a fixed basket of goods and services consisting of 490 items, with prices collected through field visits to points of sale.