Inflation in Saudi Arabia increased by 5.8% in November

The inflation rate in Saudi Arabia increased by 5.8% during November 2020, compared to the same month last year, to continue in the positive range for the 11th consecutive month during the year 2020.

According to Arabiyanet, the Saudi General Authority for Statistics said, in a statement, that this price development is largely due to the increase in value added tax from 5% to 15% in July 2020, and the biggest upward pressure on inflation came from food and beverage prices of 13% and transportation by 8%.

The authority added that the food and beverage department was affected by the increase in food prices by 13.3%, and in turn it was affected by the increase in meat and poultry prices by 14.8%, as well as the increase in the prices of vegetables by 22.2%. The section has a significant impact on the annual rise in inflation.

The authority data showed that the tobacco division increased by 13.3%, affected by the increase in cigarette prices by 12.9%, and the communications department increased by 11.1% due to the rise in the prices of telephone and fax services by 12.9 %.

and the transportation department recorded an increase of 8% due to the rise in vehicle purchase prices by 11.6%, and the home furnishing section rose by 7.6% due to the increase in the prices of furniture, fixtures, carpets and other Ground furniture, 9.6%.

The miscellaneous goods and services division rose by 7.3%, affected by the 23% rise in the prices of jewelry and watches of all kinds and precious antiques.

In contrast to the education section, the rest of the departments fell by 8.6%, due to the decrease in the prices of pre-primary and primary education by 12.4%, and intermediate and secondary education by 11.1%, and similarly the housing section decreased Water, electricity, gas and other fuels by 8%, affected by a decrease in housing rental prices by 1.6%.

monthly inflation rate

On a monthly basis, data showed a decrease in prices in November by 0.1% compared to October 2020, because the monthly inflation index was affected by the decrease in the housing, water, electricity, gas and other fuels section by 0.6%, which in turn was affected by the decrease in housing rental prices by 0.7%.

wholesale price rose 5.5% in November

In a related context, the Saudi General Authority for Statistics data showed that the wholesale price index rose by 5.5% in November 2020, on an annual basis, which is lower than the previous month's rate of 5.7%.

It was higher ...