Riyadh – Mubasher: The Consumer Price Index (CPI) of Saudi Arabia rose by 2.7% year-on-year (YoY) in July 2022, according to the Saudi General Authority for Statistics (GaStat).
The authority attributed the higher inflation rate in July to a 3.9% rise in the prices of food and beverages and a 3.6% increase in the transport sector.
On a monthly basis, the inflation rate in July was higher by 0.5% than June’s rate of 2.3%.
On the other hand, prices of clothing and footwear levelled down by 1.2% in July due to a 1.5% decrease in garments prices.
The Wholesale Price Index (WPI) surged by 6.8% YoY in July 2022, while being lower by 0.4% than 8.1% in June this year.
The increase resulted from a 5% rise in prices of metal products, machinery, and equipment.
Meanwhile, the monthly decrease was mainly attributed to a drop in prices of other transportable goods and basic chemicals by 1.3% and 8.6%, respectively.