Inflation to return to normal on subsidy cuts, VAT: Alkholifey

21/12/2017 Argaam

 

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

 

The deflation seen this year 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.

 

The economy  remained in deflation for the tenth consecutive month in October, with the consumer price index (CPI) slowing to -0.2 percent, according to data issued by the General Authority for Statistics (GAS).

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
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.

Most Read