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Inflation in August hits Saudi the lowest in 14 months

Inflation rate in Saudi Arabia has deteriorated in August. This has happened for the second month in a row. Initially it had hit the lowest in June 2020.

The consumer price index (CPI) gauge recorded a modest increase in August of 0.3 percent. This is used to detect the changes in prices. There has been an increase and this shows shows drop from the annual rate recorded in June at 6.5 percent. This has been given by the General Authority for Statistics (Gastat).

This fall has a major impact on the diminish in VAT from 5 percent to 15 percent. This change has had had role in the consumer price index levels starting from July 2020.

The breakthrough in this situation affected non-food prices. Similarly an inflation in the clothing and transport sectors was also noticed.

Also read : WOMEN FOOTBALL TEAM OF AFGHANISTAN REACHES PAKISTAN.

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