|22 January, 2020

Saudi wholesale prices up 0.4% in December

Wholesale Price Index registered 121.2 in December

Saudi currency, riyal, is seen at a local currency exchange in Manama, Bahrain October 16, 2018. Image used for illustrative purpose

Saudi currency, riyal, is seen at a local currency exchange in Manama, Bahrain October 16, 2018. Image used for illustrative purpose

REUTERS/ Hamad I Mohammed

Riyadh – Mubasher: The General Wholesale Price Index (WPI) in Saudi Arabia increased in December by 0.4% on a monthly basis, according to the General Authority for Statistics (GaStat).

The index recorded 121.2 last month compared with its reading in November at 120.7.

This was mostly driven by a 1.1% increase in the agriculture and fishery products section, and a similar rise in the food products, beverages, tobacco, and textiles section as the meat, fish, fruit, vegetables, oils and fats group prices added 5.6% compared with its level in the previous month.

On an annual basis, the wholesale price index went up by 3.7%, compared with its level in December 2018 at 116.9 points.

An 8% surge in metal products, machinery, and equipment section led the annual hike in wholesale prices, coupled with a 2% in the price of other goods and an 0.4% in agriculture and fishery products.

It is worth noting that recent data showed a rise in another inflation rate in Saudi Arabia during December, as the Consumer Price Index (CPI) went up by 0.1% on a monthly basis, and by 0.2% compared to its level in the same month in the year before.

Source: Mubasher

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