Saudi’s inflation rate jumps 6.1%

Saudi Arabia’s consumer price index jumped 6.1 percent in July compared with a year earlier, General Authority for Statistics said on Sunday.

The inflation rate in June was 0.5 percent, the smallest annual increase since January, before the VAT increase to 15 percent from 5 percent came into effect on July 1.

The jump in annual inflation reflected price increases in most categories, the GaStat said. Food and transport were major contributors, rising by 14.6 percent and 7.3 percent respectively, a Reuters report said.

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