Consumer Price Index (CPI) reached 2.3% over July 2023, down from June 2023, remaining relatively stable on a monthly basis for 2023. This stability is due to the strength of the Saudi economy along with the early economic procedures and measures taken by Saudi Arabia to counter the global rise in inflation rates.

It is worth noting that the inflation rates in Saudi Arabia maintain a reasonable standard and balanced rates compared to most countries in the world. During July 2023, the inflation rate recorded a slight increase of 2.3%, compared to the same month of last year 2022.

It is noteworthy that the economies of many countries of the world, including developed countries, have been suffering from sharp increases in inflation rates for several months. Economic experts and analysts confirm that reasonable and balanced inflation rates that any society may witness are part of the dynamism and vitality of the economy in this society and its ability to protect itself from any potential crises. However, unreasonable and unbalanced increase in inflation rates is a negative indicator of the existence of economic recession or serious economic challenges in societies that are witnessing a drop in inflation rates.