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Saudi Arabia Consumer Prices (Jan. 2023)

Saudi Arabia’s headline inflation rate nudged up from 3.3% y/y in December to 3.4% y/y in January, which came on the back of a small increase in non-food inflation. Inflation is now at or very close to its peak and we expect the headline rate to ease to 1.5-2.0% y/y by the end of this year.

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