Economic Indicators

Saudi inflation rate up 0.3% in August



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.

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