Saudi inflation rate up 0.3% in August

The August data showed the CPI rise was mainly due to higher prices in the transport sector, which rose 6.5%

  
Kingdom Centre, Riyadh, Saudi Arabia. Image used for illustrative purpose.

Kingdom Centre, Riyadh, Saudi Arabia. Image used for illustrative purpose.

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DUBAI - Saudi Arabia's consumer price index rose 0.3% in August from a year earlier and was 0.1% higher month on month, government data showed on Wednesday.

That was steady from a rise of 0.4% in July, Saudi Arabia's General Authority for Statistics said. That compared with a rise of 6.2% in June, the last month affected by the tripling of value added tax (VAT) in July last year.

The August data showed the CPI rise was mainly due to higher prices in the transport sector, which rose 6.5%, and a 1.9% rise in food and beverage prices.

(Reporting by Yousef Saba; Editing by Andrew Heavens) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))


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