Inflation in Saudi Arabia rose 5.2% in February

The consumer price index (inflation) in the Kingdom of Saudi Arabia increased by 5.2% in February, on an annual basis.

According to (CNBC Arabia), the consumer price index (inflation) in the Kingdom decreased by 0.1% in February on a monthly basis.

The rate of inflation rose by 5.7% in January last year on an annual basis, as a reflection of the 3-fold increase in value added from 5 to 15%, which began to be applied in July 2020.

On the first of last July, Saudi Arabia began working on the new value-added tax of 15% on all goods and services instead of the 5% that was applied since the beginning of January From 2018.

And last November, the Saudi Minister of Information in charge, Majid bin Abdullah Al-Qasabi, said that the Kingdom would reconsider increasing the value-added tax after the end of the Corona pandemic.