Saudi inflation expected to ease in Q3 2021 as VAT impact fades, says SAMA

13/08/2021 Argaam

Logo of SAMA

The Saudi Central Bank (SAMA) expected inflation rates to see a significant drop in the third quarter of the year, compared to Q3 2020.

 

The decline will come as the impact related to tripling value-added tax (VAT) to 15% has faded since the beginning of H2 2020.

 

The Kingdom’s inflation rate was forecast to remain steady at low range during the third quarter, backed by King Salman’s directive to set a cap on local gasoline price for July.

 

Fuel prices were capped at SAR 2.18 riyals per litre for the 91 octane grade, and at SAR 2.33 per litre for the 95 octane grade.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.