Riyadh - The Saudi wholesale price index levelled up by 19.8% year-on-year (YoY) in June, mainly fuelled by higher other transportable goods by 25.4% as well as the increase of the value-added tax (VAT) to 15% in July 2020 from 5%.

The other transportable goods witnessed the largest growth in wholesale prices, driven by the increase in basic chemicals prices by 79.6% and refined petroleum products prices by 28.4%, according to data released by the Saudi General Authority for Statistics (GaStat) on Thursday.

Prices of metal products, machinery, and equipment climbed by 20.5%, as a result of rising prices of basic metals by 43.6% and transport equipment by 12.5%.

Meanwhile, prices of food products, beverages, tobacco, and textiles advanced by 10.3%, due to higher prices of meat, fish, fruits, vegetables, oils, and fats by 13.6%, as well as grain mills, starch products, and other food products by 9.3%.

Likewise, agriculture and fishery products recorded a 9.4% growth, prompted by higher prices of live animals and animal products by 18.3% and agricultural products by 6.3%.

Moreover, prices of ores and minerals rose by 16.0% as prices of stones and sand levelled up by 16.0%.

On a monthly basis, the kingdom's wholesale price index advanced by 2% in June 2021.

Source: Mubasher

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