Saudi Arabia Macroeconomic Developments
- Saudi Arabia’s inflation rate fell to 2.3 percent in July compared to 2.7 percent in June, driven by relatively stable prices across all sectors. The General Authority for Statistics (GAStat) attributed the fall to a decrease in prices of furnishings, household equipment, and maintenance, which dropped by 0.3 percent in July.
- The Public Investment Fund recorded SAR146 billion ($38.9 billion) in U.S. equity holdings during the second quarter of 2023, up from SAR133 billion ($35.5 billion) in the first quarter. The most notable contributor to the quarterly surge was a SAR6.8 billion ($1.8 billion) investment facilitated through PIF’s Ayar Third Investment Co.
