Saudi Arabia’s inflation is expected to accelerate in Q3 2020, compared to the year-earlier period, the Saudi Arabian Monetary Authority (SAMA) said in its inflation report for Q2 2020.
Inflation rates in Q3 2020 will be mainly impacted by the value-added tax (VAT) hike from 5% to 15%.
The summer holiday, including Eid Al-Adha, could relatively contribute to increased prices.
Saudi Arabia tripled VAT to 15% as of July 1, 2020, Argaam earlier reported.
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