Saudi inflation driven up by food and vehicle prices as VAT hangover lingers
- Date: 16-Jun-2021
- Source: Salaam Gateway
- Sector:Economy
- Country:Saudi Arabia
Saudi inflation driven up by food and vehicle prices as VAT hangover lingers
Published 15 Jun,2021 via Arab News - Economy RIYADH - Saudi inflation rose for a second straight month as the consumer price index hit 5.7 percent.
Prices rose 5.3 percent the previous month according to data from the General Authority for Statistics.
The pickup in inflation highlighted the continuing impact of higher value added tax (VAT) which was increased to 15 percent in July 2020 from 5 percent before.
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