Middle East & North Africa Rapid Response Saudi Arabia Consumer Prices (Feb. 2023) Saudi Arabia’s headline inflation rate slowed to 3.0% y/y in February on the back of an easing of both food and non-food inflation. We think that this marks the start of a gradual easing in inflation... 15th March 2023 · 3 mins read
Middle East & North Africa Rapid Response Egypt Consumer Prices (Feb. 2023) Egypt’s headline inflation rate jumped to 31.9% y/y in February, leaving it just shy of an all-time high and reinforcing our view that the Central Bank of Egypt (CBE) will need to resume its... 9th March 2023 · 3 mins read
Middle East & North Africa Rapid Response 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... 15th February 2023 · 2 mins read
Middle East & North Africa Rapid Response Egypt Consumer Prices (Jan. 2023) Egypt’s headline inflation rate climbed from 21.3% y/y in December to 25.8% y/y in January, its fastest pace since November 2017, on the back of the recent large falls in the pound. This adds to our... 9th February 2023 · 3 mins read
Middle East & North Africa Rapid Response Saudi Arabia GDP (Q4 2022, Flash Estimate) The flash estimate for Saudi Arabia’s economy showed GDP expanded by a solid 1.5% q/q in Q4, but year-on-year growth continued to soften and we expect this slowdown to continue into the early part of... 31st January 2023 · 2 mins read
Middle East & North Africa Rapid Response Egypt Consumer Prices (Dec.) Egypt’s CPI inflation rate jumped from 18.7% y/y in November to 21.3% y/y in December, its fastest pace since the end of 2017. With the pound having weakened even further since the turn of the year... 10th January 2023 · 2 mins read
Middle East & North Africa Rapid Response Egypt Interest Rate Announcement (Dec.) The 300bp interest rate hike by the Egyptian Central Bank (CBE), which took the overnight deposit rate to 16.25%, suggests that policymakers are even more concerned about rising inflation and further... 22nd December 2022 · 2 mins read
Middle East & North Africa Rapid Response Saudi Arabia Consumer Prices (Nov.) Saudi inflation ticked down to 2.9% y/y in November on the back of a drop in food inflation. We think the headline rate will continue to fall back toward 2.0% y/y over the course of 2023. And, if... 15th December 2022 · 2 mins read
Middle East & North Africa Rapid Response Egypt Consumer Prices (Nov.) Egypt’s CPI inflation rate jumped from 16.2% y/y in October to 18.7% y/y in November – its fastest pace in five years. The headline rate only is set to only climb higher and the Central Bank of Egypt... 8th December 2022 · 2 mins read
Middle East & North Africa Rapid Response PMIs (Nov.) November’s batch of PMIs provide further evidence that the non-oil sectors in the Gulf economies are rounding off the year on a strong footing. 5th December 2022 · 2 mins read
Middle East & North Africa Rapid Response Saudi Arabia Consumer Prices (Oct.) Saudi inflation eased a touch from 3.1% y/y in September to 3.0% y/y in October (Consensus: 3.0% y/y; CE: 2.8% y/y) and we think the headline rate will continue to slow heading into 2023. 15th November 2022 · 2 mins read
Middle East & North Africa Rapid Response Egypt Consumer Prices (Oct.) The acceleration in Egypt’s CPI inflation rate from 15.0% y/y in September to a four-year high of 16.2% y/y in October (consensus 15.6% y/y, CE 15.8% y/y) lends support to our view that policymakers... 10th November 2022 · 3 mins read
Middle East & North Africa Rapid Response PMIs (Oct.) October’s batch of PMIs picked up in most of the region but there remains a stark divergence in growth prospects between the Gulf and non-Gulf economies. 3rd November 2022 · 2 mins read
Middle East & North Africa Rapid Response Egypt shifts to flexible exchange rate, hikes interest rates Egypt’s central bank has just announced that it is shifting to a more flexible exchange rate regime, which we think will result in the pound falling 18% to 24/$ by end-2023 if not sooner. The move... 27th October 2022 · 2 mins read
Middle East & North Africa Rapid Response Egypt Interest Rate Decision (Aug.) 18th August 2022 · 2 mins read