Inflation Saudi Arabia 2004
Average inflation: 0.5%
Inflation in 2004
Inflation is very low at 0.5%, well below the ECB target.
Peak and Trough
The highest inflation was in February at 1.1%. The lowest inflation was in September at 0.0%.
- Highest month
- February: 1.1%
- Lowest month
- September: 0.0%
- Difference
- 1.1 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 0.7 percentage points higher than the 5-year average of -0.2%.
- 5-year average
- -0.2%
- 10-year average
- -0.2%
- All-time high (2003)
- 0.6%
- All-time low (2001)
- -1.1%
Trend
Over the period 2002-2004, inflation has remained relatively stable. Compared to 2003, inflation has fallen by 0.1 percentage points.
- Change vs. previous year
- -0.1 percentage points
- Largest monthly swing
- July: -0.9 percentage points
ECB Target
Inflation is 1.5 percentage points below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for SAR 100 this year will cost approximately SAR 100.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 0.9% | +0.4 |
| February | 1.1% | +0.8 |
| March | 0.9% | +0.5 |
| April | 0.6% | +0.2 |
| May | 0.4% | -0.1 |
| June | 0.2% | -0.6 |
| July | 0.2% | -0.9 |
| August | 0.4% | -0.3 |
| September | 0.0% | -0.8 |
| October | 0.4% | -0.2 |
| November | 0.6% | +0.1 |
| December | 0.4% | -0.2 |
| Average | 0.5% |
Data source
Data from OECD. Last updated: 04/01/2026.