Saudi inflation to moralize on energy price hikes, VAT: Alkholifey

20/12/2017 Argaam

Saudi Arabia’s inflation rates will return to normal levels, following energy price hikes and implementation of the value-added tax (VAT) starting January 2018, Ahmed Alkholifey, Governor of the Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank, said on Tuesday.

 

Deflation rates have started to ease by almost 0.3 percent.

 

Inflation rates did not have a negative impact on financiers, savings, or the commodities market, Alkholifey added during a press conference.

 

In January 2017, Saudi Arabia’s inflation rate turned negative for the first time in over 10 years, as prices fell by 0.4 percent compared to a rise of more than 4 percent in January 2016, Argaam reported.

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.