image description
image description
Tell A Friend

FinancialNews


  • 16-08-21

    Inflation rate in Saudi Arabia slows down in July from June

    (MENAFN) In July, inflation rate in Saudi Arabia slowed down from June on yearly basis as the effects of the July 2020 boosted of the VAT rate no longer weigh on spending.

    According to data from General Authority for Statistics (Gastat), the consumer price index, a measure used to notice the changes in prices, spotted an unassuming boost in July of 0.4 percent in comparison to the previous year same time span, but this improvement is a sharp decline from the annual volume recorded in June of 6.2 percent.

    The authority further declared that the drop in yearly inflation reflects the retreating impact of the increase in VAT from 5 percent to 15 percent that affected the consumer price index levels initiating from July 2020.

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved