The consumer price index (inflation) in Saudi Arabia increased by 6.2% last August, compared to the same period in 2019.
According to official Saudi data, today, Tuesday, this increase is the second consecutive increase after raising the value-added tax to three times.
Inflation in July was 6.1%, jumping from just 0.5% in June before the value-added tax increase took effect to 15% from 5% on July 1.
Saudi Arabia, the world's largest oil exporter, announced last May that it would triple the value-added tax to boost its finances, which were damaged by low oil prices and the Coronavirus pandemic. / p>
food and transportation were the largest contributors to the increase, rising 13.5% and 8.2%, respectively.
tobacco prices jumped 13%, and restaurants and hotels by 7.7% compared to a year ago, according to the Saudi General Authority for Statistics.
(Amazon Fun Knowledge)
