Saudi Arabia inflation rate up in April to 5.3%
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Last Updated: May 20, 2021, 12:18 PM IST
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Synopsis
The 5.3% annual increase was mainly due to higher food and transport prices, the General Authority for Statistics said.
AFP
Saudi Arabia s inflation rate quickened to 5.3% in April from 4.9% the previous month, still reflecting an increase in value-added tax last year, official data showed. The 5.3% annual increase was mainly due to higher food and transport prices, the General Authority for Statistics said. Prices of food and beverages recorded the highest annual increase of 8.4%, mainly due to the increase in food prices, it said. On a month-on-month basis, consumer prices increased 0.2%.
By Reuters Staff
2 Min Read
DUBAI, May 20 (Reuters) - Saudi Arabia’s inflation rate quickened to 5.3% in April from 4.9% the previous month, still reflecting an increase in value-added tax last year, official data showed.
The 5.3% annual increase was mainly due to higher food and transport prices, the General Authority for Statistics said.
“Prices of food and beverages recorded the highest annual increase of 8.4%, mainly due to the increase in food prices,” it said.
On a month-on-month basis, consumer prices increased 0.2%.
Annual inflation was 3.4% in 2020, picking up in the second half of the year after Saudi authorities tripled a value-added tax to 15% to bolster coffers hurt by the coronavirus crisis and lower oil prices.
DUBAI: Saudi Arabia’s inflation rate quickened to 5.3 percent in April from 4.9 percent the previous month, still reflecting an increase in value-added tax last year, official data showed.The 5.3 percent annual increase was mainly due to higher food and transport prices, the General Authority for Statistics said.“Prices of food and beverages recorded the highest annual
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