Saudi Arabia's CPI rises 5.7% in September

The inflation is pressured by higher prices of the food and beverages sector

  
Image used for illustrative purpose. In Saudi Arabia, Riyadh

Image used for illustrative purpose. In Saudi Arabia, Riyadh

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Riyadh –  Saudi Arabia's Consumer Price Index (CPI) increased by around 5.7% year-on-year (YoY) in September 2020, down from an inflation rate of 6.2% in August.

This change in prices is attributed to a rise in the value-added tax to 15% in July 2020 from 5%, according to the latest statistics by the General Authority for Statistics (GaStat).

The inflation is pressured by higher prices of the food and beverages sector with 12.6% and transport segment with 7.8%.

Meanwhile, the prices of tobacco, communication, and furnishings, household equipment, and household maintenance increased by 13.3%, 9.5%, and 8.3%, respectively.

On a monthly basis, the inflation rate decreased by 0.2% in September, when compared to August, driven by lower prices of the education segment by 8.2% and clothing and footwear sector by 0.4%.

It is noteworthy to mention that in August, Saudi Arabia's inflation rate rose by 6.2% year-on-year (YoY), slightly above the previous month’s rate of 6.1%.

Source: Mubasher

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