Inflation in Saudi Arabia relatively stable in Q1/ 2023

Riyadh, April 13 /BNA /: The inflation rate in the Kingdom remained relatively stable in the first quarter of 2023, reaching 3.4% in January, declining in February to 3%, and reaching 2.7% in March, achieving relative stability. In the first quarter of 2023.

The consumer price index for March 2023 reflects the stability of inflation rates in the Kingdom during the first quarter of 2023 due to the strength of the Saudi economy.

According to the Saudi Press Agency (SPA), the royal orders to fix the ceiling on energy prices clearly contributed to the stability of inflation rates in the Kingdom, despite its high rates in several countries around the world, and played a role in achieving relative stability in the Kingdom. The rate of inflation, which indicates the strength and flexibility of the Saudi economy and its great ability to absorb shocks.


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