Inflation in Saudi Arabia

Objective: This research is about inflation in Saudi Arabia over the period from 1970 to 2021. The aim of this paper is to analyze the inflation in Saudi Arabia, to determine the effect of financial structure of Saudi Arabia on the future changes in overall inflation. Methodology: The way used to study inflation in this research is to search and get information from different available data, such as government websites and previous studies. Financial structure of Saudi Arabia was analyzed to understand inflation in the country. Results: Economy of the kingdom of Saudi Arabia mainly relies on petro-chemical and oil export as inflation rate has been very low during past decades. Limitations: This study caters with the future changes in overall inflation. Dramatic price changes in different sectors like food, household, and house rent were also studied. Fluctuations in the general price level which occur on a successive basis were then related to specific causes. Practical Implications: Different causes of raising prices are discussed, along with the steps taken by the government to minimize inflation effects on the public of the Kingdom of Saudi Arabia. This study also provides valuable information for future researchers interested in analyzing the effects of inflation on different contexts.