Riyadh – Mubasher: Saudi Arabia's Wholesale Price Index (Inflation) jumped 16.2% year-on-year in November, the General Authority for Statistics (GASTAT) reported.
The inflation rise was attributed to a growth in five sections, led by other goods section with 37% as refined petroleum products surged 93.9%, the state-run statistics agency added.
The Saudi body further noted that the large increase in year-on-year the Wholesale Price Index occurred due to imposing the value-added tax (VAT), and the adjustment of fuel prices as of January.
Month-on-month, the GCC country’s Wholesale Price Index inched up 0.1% last month as other good sector edged up 0.2%, while agriculture products sector levelled up 0.1%.
