February 15, 2024

Saudi CPI Inflation 1.6% y-o-y (consensus 1.6%) in Jan-24

- Saudi CPI inflation increased to 1.6% y-o-y in January 2024, marking the highest growth since November 2023.
- Month-on-month, CPI inflation increased by 0.3% in January 2024, indicating a slight acceleration in price levels.

January 15, 2024
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Outlook 2024: Lower For Longer Redux

  • With non-Opec+ output likely to exceed consumption growth, the cartel will struggle to keep Brent above USD80pb even in the event of something close to consensus economic growth in China and a probable soft landing in the US. My forecast for 31 December is USD70pb.

By Alastair Newton

January 15, 2024

Saudi CPI Inflation 1.5% y-o-y (consensus 1.5%) in Dec-23

- Saudi CPI inflation stood at 1.5% year-on-year in December 2023, the lowest level since January 2022.
- On a monthly basis, Saudi CPI inflation increased by 0.1% in December 2023, indicating relatively contained price pressures.

December 14, 2023

Saudi CPI Inflation 1.7% y-o-y (consensus 1.6%) in Nov-23

- Saudi CPI inflation in November 2023 surpasses market consensus by rising 0.1pp to 1.7% y-o-y, representing the highest rate since August 2023.
- The inflation rate remains below both the one-year and long-run averages, indicating a relatively stable and predictable economic environment in Saudi Arabia.