October 22, 2021, 14:27

    Saudi inflation inches up to 0.6% in September

    Saudi inflation inches up to 0.6% in September

    DUBAI, Oct 14 (Reuters) – Saudi Arabia's consumer price index increased 0.6% in September from a year earlier and was 0.2% higher month on month, government data showed on Thursday.

    The annual rate was marginally above a rise of 0.3% in August and 0.4% in July, data from Saudi Arabia's General Authority for Statistics showed. That compared with a rise of 6.2% in June, the last month affected by the tripling of value added tax (VAT) to 15% in July last year.

    "Food and Beverages prices were the main driver of the inflation rate in September 2021 due to their high importance in the Saudi consumer basket (with a weight of 18%)," the General Authority for Statistics said.

    Food prices rose 2.6% due to a 12.5% rise in vegetable prices and meat and poultry prices increasing by 2%.

    Transport prices rose 5.9% on the back of a 44.9% increase in gasoline prices, the statistics authority said.

    Reporting by Yousef Saba; Editing by Toby Chopra

    Sourse: reuters.com

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