Inflation in Saudi Arabia rises to 4.9% in March 2021
15/04/2021 Argaam Special Share Copy to clipboard
Saudi Arabia’s inflation accelerated to 4.9% in March 2021, according to recent data by the General Authority for Statistics (GASTAT).
The authority attributed the growth in inflation to an increase in the value-added tax (VAT) from 5% to 15%, starting July 1, 2020.
The cost-of-living index for March rose to 103.72 points, according to the base year 2018, compared to 98.83 points the year before.
The increase in consumer price index (CPI) was mainly driven by a rise of 10.2% year-on-year (YoY) in the average prices of food and beverages and a 10.5% increase in the transport sector, as vehicle prices grew by 9.6%.
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by Tyler Durden
Tuesday, Apr 06, 2021 - 07:48 AM
Global stocks hit record highs on Tuesday, supported by strong economic data from China and the United States, although US equity futures slipped as concern China is curtailing loan growth tempered optimism stoked by the U.S. economic rebound. Nasdaq underperformed as investors locked in some gains on renewed reflation concerns hopes while currency and bond markets paused for breath after a month of rapid gains in the dollar and Treasury yields. At 715 a.m. ET, Dow E-minis were down 41 points, or 0.11%, S&P 500 E-minis were down 8 points, or 0.20% and Nasdaq 100 E-minis were down 11.5 points, or 0.23%.