Wholesale price index in Saudi Arabia reaches 3.1% in July 2024

The Wholesale Price Index (WPI) reached 3.1% in July 2024 compared to the same month of 2023, mainly due to the increase in the prices of other transportable goods by 8.3%, affected by the increase in the prices of basic chemicals by 15.7%, as well as the increase in the prices of refined petroleum products by 12.0%.

Increase of other transportable goods prices in July 2024

The category of other transportable goods increased by 8.3%, compared to July2023, due to a 15.7% increase in basic chemicals prices, and a 12.0% rise in refined petroleum products prices.

Similarly, prices of food products, beverages, tobacco, and textiles rose by 0.9% due to a 5.0% increase in the prices of leather, leather products and footwear and a 4.4% increase in the prices of grain mills, starch, and other food products.

On the other hand, ores and minerals prices decreased by 4.3%, mainly due to a 4.3% decrease in stone and sand prices.

Prices of metal products, machinery, and equipment decreased by 0.8%, attributed to a 6.9% decline in the prices of radio, television and communication, equipment, and apparatus and a 4.6% decrease in the prices of machinery used for general purposes. Agricultural and fishery products prices experienced a 0.2% decrease, driven by a 0.4% decrease in the prices of live animals and animal products and a 0.1% decrease in the prices of agricultural products.

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

The wholesale price index decreased by 0.1% in July 2024 compared to June 2024, due to a 0.3% decrease in the prices of agriculture and fishing products, a 5.0% decrease in the prices of live animals and animal products, and a 3.0% decrease in the prices of agricultural products.

The prices of metal products, machinery, and equipment decreased by 0.3%, due to a 1.2% decrease in the prices of general-purpose machinery.

Prices of ores and minerals decrease by 0.2% due to a 0.2% decrease in the prices of stone and sand.

The prices of food products, beverages, tobacco, and textiles decreased by 0.1%, due to a 1.0% decrease in the prices of textile items other than apparel and a 0.4% decline in the prices of dairy products.

While the prices of other transportable goods stabilized and did not record any significant relative change in July 2024.