Weekly Market Brief – 4/14/2023

Saudi Arabia Macroeconomic Developments

• According to the General Authority for Statistics (GASTAT) Saudi Arabia’s inflation eased to 2.7 percent in March from 3 percent in February due to a slight decrease in food and beverage prices.

• Industrial production in Saudi Arabia rose to 6 percent YoY in February easing from a 6.8 percent gain in January driven by high production in mining and quarrying, and manufacturing activities, according to GASTAT.

• The annual wholesale price inflation in Saudi eased to 1.1 percent in March after a 2.7 percent growth in February, the lowest it has been since June 2020.