Saudi Wholesale Prices Increase by 5.6% in August 2022

In August 2022, the Wholesale Price Index (WPI) increased by 5.6% compared to the same month in 2021, down from 6.8% in July 2022.

The increase resulted mainly from the increase in metal products, machinery and equipment prices (+3.2%) that have a relatively high weight in the index.

General-Purpose Machinery Shows the Highest Increase in August 2022

Metal products, machinery and equipment prices increased by 3.2%, due to the increase of General-purpose machinery prices by (10.2%), and fabricated metal products prices by (6.9%), due to their weight in the index.

Other transportable goods increased by 4.8%, due to the increase of basic chemicals prices by 12.5%, and refined petroleum products prices by 3.5%.

Food products, beverages, tobacco and textiles prices increased by 8.8%, as a result of the increase in the prices of meat, fish, fruits, vegetables, oils and fats by (22.3%) and grain mills, starch and other food products prices by (5.5%).

Agriculture and fishery products prices increased by 15.0%, which resulted mainly from higher prices of agricultural products by (18.3%), and live animals and animal products by (8.7%).

Ores and minerals prices went up by 6.0%, due to the increase in stones and sand prices by (6.0%).

Wholesale Prices Decrease by 0.5% compared to July 2022

Wholesale price index decreased by -0.5% in August 2022 compared to July 2022, influenced by the decrease in Metal products, machinery and equipment prices by -0.9%, as a result to the decrease in basic metals prices (-4.1%).

Other transportable goods prices decreased by -0.1%, as a result to the decrease in basic chemicals prices (-1.0%).

Agriculture and fishery products prices decreased by 2.0%, as a result to the decrease in live animals and animal products (4.0%) Ores and minerals prices decreased by -0.3%, due to the decrease in

stones and sand prices (-0.3%).

On the other hand, food products, beverages, tobacco, and textiles prices increased by 0.1%, as a result to the increase in dairy products prices by (1.6%).