Riyadh – Mubasher: The Saudi wholesale price index (WPI) jumped by 6% on an annual basis in January 2021, compared with 5.2% in the previous month.
The increase in the WPI resulted from higher prices of metal products, machinery and equipment by 14.7% and the overall impact of the tripling of the value-added tax (VAT) to 15% in July 2020, data by the General Authority for Statistics (GaStat) showed.
A dampening factor on wholesale price inflation was lower prices of other transportable goods by 5.1%.
Month-on-month (MoM), wholesale prices rose by 1% in January 2021, driven by higher prices of other transportable goods by 1.4%.
