Riyadh – Mubasher: Saudi Arabia's wholesale price index (inflation) jumped 16.1% year-on-year in February 2018, the General Authority for Statistics’ (GASTAT) data showed.
The GASTAT attributed the monthly inflation hike to the introduction of the value-added tax (VAT) and adjustment of fuel prices.
Inflation was impacted by a 31.8% growth in other goods section as refined petroleum products surged 93.7%, while pulp and paper levelled up 9.6%, the GASTAT added.
The kingdom’s inflation was also impacted by a 10% increase in food products, beverages, tobacco, and textiles section, followed by a 6.6% rise in metal products, machinery, and equipment, a 3.7% jump in ores and minerals, in addition to an 1.1% hike in agriculture and fishery products.
On a monthly basis, the oil-rich- nation's inflation shed 0.1% to 117 points in the second month of 2018, compared to 117.1 points in January 2018.
