Inflation in Saudi Arabia at the highest level

Official government data revealed that Saudi Arabia’s annual inflation rate reached 6.2 percent in June, the highest rate this year, down from 5.7 percent in May, when June recorded the third consecutive monthly increase.
The General Statistics Authority said: “It is noted that the consumer price index still reflects the increase in value added tax from 5 to 15%, which began to be applied in July of l ‘last year. by 8.1 percent.
To help ease the rising cost of living, Saudi Arabia, the world’s largest oil exporter, last week set a limit on local gasoline prices from July, while the authority said consumer prices rose 0.2% on a monthly basis in June.
On the other hand, Capital Economics in London said that inflation is expected to start coming down from this month as the base impact of the increase in value added tax wears off relative to the annual price comparison, explaining that the inflation rate will slow down between one and 1.5% on an annual basis. . The International Monetary Fund has said it expects average annual inflation of 3.2 percent this year.