The annual consumer price inflation index in the Kingdom of Saudi Arabia rose by 6.2% during last June, compared to 5.7% in May 2021.
The Saudi General Authority for Statistics said that the rise in inflation is due to an increase in transportation prices by 22.6%, affected by an increase in vehicle purchase prices by 10.6%, in addition to the increase in prices Food and beverages by 8.1%.
The International Monetary Fund had expected in early July that the inflation rate in Saudi Arabia would increase by 3.2% in 2021, compared to about 3.4% during the past year.
During 2020, the Kingdom's fiscal deficit rose to 11.3% of GDP, driven mainly by a 30% decline in oil revenues.
