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FinancialNews
16-06-21
Saudi inflation increases as consumer price index hit 5.7 percent
(MENAFN)Since the consumer price index stood at 5.7 percent, Saudi inflation increased for a second straight month.
Data from the General Authority for Statistics showed that prices increased 5.3 percent in May.
The rise in inflation underlined the ongoing effect of higher value added tax (VAT) that was improved to 15 percent in the July the previous year from 5 percent before.
Transport prices also improved by 19.3 percent, managed by the increasing cost of buying a vehicle.
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