Saudi wholesale prices increase by 2.7% in February 2023

In February 2023, the Wholesale Price Index (WPI) increased by 2.7% compared to the same month in 2022, fewer than in January 2023 by 3.6%.

The increase in February resulted mainly from higher prices of food products, beverages, tobacco, and textiles (+6.3%).

Dairy products prices show highest increase in February 2023

Food products, beverages, tobacco, and textiles prices increased by 6.3%, as a result of the increase in the prices of dairy products by 19.5% and meat, fish, fruits, vegetables, oils and fats by 11.1%.

Other transportable goods increased by 3.3%, due to the increase in refined petroleum products prices by 3.8%, and other chemical products, artificial fibers prices by 4.3%.

Agriculture and fishery products prices increased by 4.6%, which resulted mainly from higher prices of agricultural products (+5.5%), and fish and other fishing products (+4.9%).

Metal products, machinery and equipment prices increased by 0.3%, due to the increase in transport equipment products (+4.9%), and general-purpose machinery prices (+5.3%).

Ores and minerals prices went up by 1.6%, due to the increase in stones and sand prices (+1.6%).

Wholesale prices decrease by 0.1% in February 2023 compared to January 2023

The wholesale price index decreased by 0.1% in February 2023 compared to January 2023, as a result of the decrease in the prices of other transportable goods by 0.6%, due to the decrease in the

prices of Basic chemicals (4.3%).

Ores and minerals prices decreased by 0.7%, due to the decrease in stones and sand prices (0.7%).

Contrarily, metal products, machinery and equipment prices increased by 0.5%, due to the increase in the prices of Basic metals (1.9%).

While the prices of agriculture, fishery products, food products, beverages, tobacco, and textiles stabilized and did not show any significant change in February 2023.