Riyadh – Mubasher: The general wholesale price index (WPI) in Saudi Arabia fell by 2.1% in May 2020 to mark the first drop since February 2019, after easing to 0.6% in the previous month.

The fall was primarily driven by a plunge in the prices of refined petroleum products by 20.9%, given their weight in the index, recent data by the Saudi General Authority for Statistics (GaStat) showed.

However, the wholesale price inflation was largely offset by the higher prices of agriculture products by 9.9% and live animals and animal products by 22.5%.

Wholesale prices of agricultural and fishery products gained 12.7% year-on-year (YoY) in May 2020, the statement noted.

Moreover, metal products, machinery, and equipment recorded an increase of 2.1%, originating primarily from higher prices of transport equipment and motor vehicles by 4.5% and 4.1%, respectively.