Wholesale Price Index in Saudi Arabia increases by 3.2% in June 2024

The Wholesale Price Index (WPI) increased by 3.2% in June 2024 compared to the same month of 2023, category of other transportable goods by 8.0%, This increase is mainly driven by a 13.4% rise in prices of basic chemicals, and an 11.9% increase in prices of refined petroleum products.

Increase of other transportable goods prices in June 2024

The category of other transportable goods increased by 8.0%, compared to Jun2023 , due to a 13.4% increase in basic chemicals prices, and an 11.9% rise in refined petroleum products prices.

Similarly, prices of food products, beverages, tobacco, and textiles rose by 1.3%, due to a 6.6% increase in the prices of leather, leather products and footwear, and a 4.6% increase in the prices of grain mills, starch, and other food products.

Agricultural and fishery products prices experienced a 0.9% increase, driven by a 1.4% increase in products of agriculture.

On the other hand, ores and minerals prices decreased by 3.4%, mainly due to a 3.4% decrease in stone and sand prices.

Furthermore, prices of metal products, machinery and equipment decreased by 0.5%, attributed to a 6.5% decline in prices of radio, television and communication, equipment, and apparatus prices, and a 2.8% decrease in prices of machinery used for general purposes.

Decrease of wholesale prices by 0.1% in June 2024 compared to May 2024

The Wholesale price index decreased by 0.1% in June 2024 compared to May 2024, attributed to a 0.3% decrease in the prices of ores and minerals, due to a 0.3% decrease in the prices of stone and sand.

Prices of food products, beverages, tobacco, and textiles decreased by 0.1%. This decline resulted from a 0.4% decrease in the prices of meat, fish, fruit, vegetables, oils, and fats, and a 0.3% decline in the prices of dairy products.

Furthermore, prices of other transportable goods decreased by 0.2%, due to a 1.6% decrease in the prices of basic chemicals.

Prices of metal products, machinery and equipment decreased by 0.2%, as a result of a 0.6% decrease in the prices of basic metals.

In contrast, prices of agriculture and fishery also increased by 0.4%, driven by a 1.8% increase in the prices of live animals and animal products.