GASTA”: Inflation in the Kingdom stable during Q1‎

The inflation rate in the Kingdom maintained its relative stability during the first quarter of 2023 AD, reaching 3.4% in January 2023 AD, then it decreased in the following month, February 2023 AD, when it reached 3.0%, to reach 2.7% in March 2023 AD. , thus achieving relative stability in the first quarter of 2023

The Consumer Price Index Bulletin for the month of March 2023 AD, which was published by the General Authority for Statistics today, Thursday, reflects the stability of inflation rates in the Kingdom during the first quarter of 2023 AD as a result of the strength of the Saudi economy, and the great positive impact that resulted from the measures and procedures that the Kingdom hastened to take since An early time to solve the supply chain crisis that was expected, and its signs appeared after the world emerged from the Corona pandemic, and many countries are still suffering from its consequences until now.

Compared to most countries in the world in terms of inflation rates, the Kingdom maintains its survival at a low level during the month of March 2023 AD, as it recorded a slight increase of 2.7% when compared to March 2022 AD.

In the same context, the royal orders to fix the upper ceiling for energy prices contributed to stabilizing inflation rates in the Kingdom clearly – despite their escalation in a number of countries in the world – in achieving relative stability in the inflation rate, which indicates the strength of the Saudi economy, its flexibility and its great ability to shock absorption.

On the other hand, it is indicated that reasonable or balanced inflation rates that any society may witness are part of the dynamism of the economy and its ability to protect itself from any potential crises, while the unreasonable and unbalanced increase in inflation rates is a negative indicator indicating the existence of A state of economic stagnation and the economic conditions in that society.