Riyadh – Mubasher: The Consumer Price Index (CPI) in Saudi Arabia rose by 5.2% on an annual basis in February, but declined compared with January’s reading of 5.7%, official data showed on Monday.
“Consumer prices still reflect the increase of the Value Added Tax (VAT) from 5% to 15% in July 2020,” according to the monthly inflation report by the General Authority for Statistics (GaStat).
Higher food and beverages prices, which rose by 11.2%, and to a lower extent the increase in transport costs by 9.8%, were the main forces behind the rise in the inflation rate last month.
Food prices grew by 11.3%, as meat prices increased by 14.1%, while vegetable prices went up by 10.8%.
Meanwhile, the increase in transport prices was mainly due to the price increase of purchased vehicles by 9.9%.
Data further showed that tobacco prices rose by 13.2%, as cigarette prices increased by 13.5%, while education, as well as housing and utilities, recorded a decline in prices by 9.5% and 2.6%, respectively.
