Saudi Wholesale Price Index up by 6.8% in July

Saudi Wholesale Price Index up by 6.8% in July

RIYADH — Saudi Arabia’s Wholesale Price Index (WPI) increased by 6.8 percent in July 2022 compared to the same month of 2021, down from 8.1 percent in the previous month of June, according to a report of the General Authority for Statistics (GASTAT).

Machinery prices showed the highest increase during the last month. The increase resulted mainly from the increase in metal products, machinery and equipment prices (+5.0percent) that have a relatively high weight in the index.

Metal products, machinery and equipment prices increased by 5 percent due to the increase of general-purpose machinery prices (12.1 percent) and fabricated metal products prices (6.4 percent) due to their weight in the index.

Other transportable goods increased by 5.7 percent, due to the increase of basic chemicals prices by 19.3 percent, and refined petroleum products prices by 3.5 percent. Food products, beverages, tobacco and textiles prices jumped by 9.1 percent, as a result of the increase in the prices of meat, fish, fruits, vegetables, oils and fats (23.1 percent) and grain mills products prices (5.9 percent ).

Agriculture and fishery products prices soared 17.2 percent, which resulted mainly from higher prices of agricultural products (19.8 percent), and live animals and animal products (12.6 percent). Ores and