Riyadh – Mubasher: The Saudi wholesale price index (WPI) rose by 5.5% in November 2020 on an annual basis.
The increase of the index was attributed to higher prices of agriculture and fishery products by 18.7%, given their weight in the index, coupled with the overall impact of the increase of the value-added tax (VAT) from 5% to 15% in July, official data showed on Tuesday.
Moreover, the lower prices of refined petroleum products, which fell by 19.8% yearly, were a dampening factor on the wholesale price inflation.
On a monthly basis, the WPI inched down by 0.07% in November, driven by a decline in the prices of other transportable goods by 0.3%.
