Archive

Saudi CPI Inflation 2.0% y-o-y in Aug-23

- Saudi Arabia's year-on-year CPI inflation in August 2023 recorded a growth rate of 2.0%, the lowest since February 2022 and below both the one-year and long-run averages.
- On a monthly basis, CPI inflation remained stagnant at 0.0% in August 2023, indicating price stability during the period.

BRICS Without Straw

• Beijing’s domineering drive to enlarge the BRICS group as a counterweight to the G7 is rooted primarily in the CCP’s need to internationally promote its autocratic governance model. That aids the domestic justification while, paradoxically, Xi Jinping’s policies turn China increasingly inward.

By Alastair Newton

Saudi Arabia PMI 56.6 in Aug-23

- Saudi Arabia's August 2023 PMI of 56.6 indicates a slight decline in economic activity, marking the lowest level since July 2022.
- This figure falls 1.56 points below the one-year average, suggesting a moderation in the pace of economic growth.

Saudi Arabia M3 money supply 9.34% y-o-y in Jul-23

- Saudi Arabia's M3 money supply exhibited a substantial growth rate of 9.34% year-on-year in July 2023, surpassing both its previous reading of 9.08% and the one-year average by 0.48 percentage points.
- The current M3 growth rate in Saudi Arabia stands 0.80 percentage points above the long-run average, indicating an upward trend in money supply beyond what is typically observed.