OECD inflation remains stable at 10.3% in August

In 15 OECD countries, the inflation rate continued in double digits, with the highest rates observed in Estonia, Latvia, Lithuania and Turkey, all above 20 percent. (Shutterstock)
Short Url
Updated 04 October 2022
Follow

OECD inflation remains stable at 10.3% in August

RIYADH: The inflation rate across Organization for Economic Co-operation and Development countries remained broadly stable at 10.3 percent in August, 10.2 percent in July and 10.3 percent in June. 

According to a OECD press release, the headline inflation, based on the Consumer Price Index, in 16 of 38 OECD countries decreased between July and August, primarily driven by a slower increase in energy prices. 

In 15 OECD countries, the inflation rate continued in double digits, with the highest rates observed in Estonia, Latvia, Lithuania and Turkey, all above 20 percent. 

The press release further noted that energy price inflation in the OECD fell to 30.2 percent year-on-year in Aug. 2022, also down from 35.3 percent in July 2022, with declines in more than 60 percent of OECD countries.

However, both food price inflation and inflation excluding food and energy kept rising in the OECD in Aug. 2022. 


The Family Office to host global investment summit in Saudi Arabia

Updated 18 January 2026
Follow

The Family Office to host global investment summit in Saudi Arabia

RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.

The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.

The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.

Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.

Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.

The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.

The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.

With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.

The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.