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Kuwait CPI inflation 3.83% y-o-y in Jun-23

- Kuwait's CPI inflation rate reached 3.83% in June 2023, marking the highest growth since August 2022 and surpassing the previous rate of 3.69%.
- This inflation rate is 0.28 percentage points above the one-year average and 0.69 percentage points above the long-run average, indicating a deviation from recent trends and historical norms.

Opec: Is The End (Finally) Nigh?

• Historically, forecasts of Opec’s imminent demise have proved well wide of the mark. However, keeping the cartel together as we enter an era of permanently declining demand for oil may prove much more challenging.

By Alastair Newton

Kuwait CPI inflation 3.69% y-o-y in May-23

- Kuwait's CPI inflation rate in May-23 was 3.69% year-on-year, marking the lowest growth since February-23.
- The current inflation rate is 0.09pp above the one-year average and 0.55pp above the long-run average, indicating some persistent inflationary pressures.

Oil: In Search of Stability

• Despite what was, by all accounts, a challenging discussion at the Opec+ table last weekend, Saudi Arabia appears to have engineered a pragmatic outcome consistent with its drive to stabilise the oil price.

By Alastair Newton