The inflation rate in the Kingdom remained relatively stable in the first quarter of 2023, reaching 3.4% in January, going down in February to 3%, and standing at 2.7% in March, achieving relative stability in the first quarter of 2023.
The Consumer Price Index for March 2023 reflects the stability of the Kingdom’s inflation rates during the first quarter of 2023 due to the robustness of the Saudi economy.
In the meantime, Royal orders to stabilize the ceiling of energy prices have clearly contributed to the stability of the Kingdom’s inflation rates, despite their high rates in several countries around the world, and played a role in achieving relative stability in the inflation rate, demonstrating the strength of the Saudi economy, its flexibility and its considerable capacity to absorb shocks.
Source: Saudi Press Agency