Riyadh – Mubasher: Saudi Arabia’s wholesale price index fell 0.4% year-on-year in February, data released by the General Authority for Statistics (GASTAT) showed on Wednesday.
The kingdom’s wholesale price index dropped to 116.5 points in February, against 117 points in the corresponding month a year earlier, and compared to 116.4 points in the first month of this year.
The inflation decline was led by a 2.6% retreat in prices of agriculture and fishery products and the 1% drop in food and beverages prices, the state-run statistics agency indicated.
On the other hand, prices of metal products, machinery, and equipment grew 0.5% year-on-year in February.
On a monthly basis, the kingdom’s inflation inched up 0.1% from January, on the back of a 1% increase in prices of metal products, machinery, and equipment.
