Saudi inflation rate up 0.3% in August

FILE PHOTO: The spread of the coronavirus disease (COVID-19), in Riyadh
FILE PHOTO: People wearing protective face masks and gloves shop at a supermarket, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia May 11, 2020. REUTERS/Ahmed Yosri/File Photo

September 15, 2021

DUBAI (Reuters) – Saudi Arabia’s consumer price index rose 0.3% in August from a year earlier and was 0.1% higher month on month, government data showed on Wednesday.

That was steady from a rise of 0.4% in July, Saudi Arabia’s General Authority for Statistics said. That compared with a rise of 6.2% in June, the last month affected by the tripling of value added tax (VAT) in July last year.

The August data showed the CPI rise was mainly due to higher prices in the transport sector, which rose 6.5%, and a 1.9% rise in food and beverage prices.

(Reporting by Yousef Saba; Editing by Andrew Heavens)