{"id":125751,"date":"2021-05-20T09:12:07","date_gmt":"2021-05-20T09:12:07","guid":{"rendered":"https:\/\/precoinnews.com\/?p=125751"},"modified":"2021-05-20T09:12:07","modified_gmt":"2021-05-20T09:12:07","slug":"saudi-arabia-inflation-rate-up-in-april","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/","title":{"rendered":"Saudi Arabia inflation rate up in April"},"content":{"rendered":"<p>DUBAI (Reuters) -Saudi Arabia\u2019s inflation rate quickened to 5.3% in April from 4.9% the previous month, still reflecting an increase in value-added tax last year, official data showed.<\/p><figcaption>FILE PHOTO: Cars drive past the King Abdullah Financial District in Riyadh, Saudi Arabia, November 12, 2017. REUTERS\/Faisal Al Nasser<\/figcaption><p>The 5.3% annual increase was mainly due to higher food and transport prices, the General Authority for Statistics said.<\/p>\n<p>\u201cPrices of food and beverages recorded the highest annual increase of 8.4%, mainly due to the increase in food prices,\u201d it said.<\/p>\n<p>On a month-on-month basis, consumer prices increased 0.2%.<\/p>\n<p>Annual inflation was 3.4% in 2020, picking up in the second half of the year after authorities tripled a value-added tax to 15% to bolster coffers hurt by the coronavirus crisis and lower oil prices.<\/p>\n<p>Saudi Arabia\u2019s economy shrank 3.3% in the first quarter this year from a year earlier, hit by oil output cuts, but the non-oil economy expanded 3.3%, recovering from the pandemic, according to flash government estimates this month.<\/p>\n<p>The kingdom\u2019s economy, the largest in the Arab world, is expected to grow 2.1% in 2021 after shrinking 4.1% last year, the International Monetary Fund said this month.<\/p>\n<p>The Fund said that, while plans to adjust Saudi finances were making good progress, authorities could consider increasing spending to support low-income households and help offset the loss of purchasing power after consolidation measures introduced last year.<\/p>\n<p>\u201cLooking ahead, we think that the headline inflation rate will continue to drift higher over the rest of this quarter, peaking at around 6.5% y\/y in June, largely due to stronger energy price inflation,\u201d James Swanston, an economist at Capital Economics, said in a note on Thursday.<\/p>\n<p>\u201cBut inflation will drop sharply from July as the effects of the VAT hike drop out of the annual price comparison and stay at around 1-2% y\/y over the course of this year and next.\u201d<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/saudi-economy-inflation\/update-1-saudi-arabia-inflation-rate-up-in-april-idUSL2N2N70JP\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DUBAI (Reuters) -Saudi Arabia\u2019s inflation rate quickened<\/p>\n","protected":false},"author":3,"featured_media":125750,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Saudi Arabia inflation rate up in April - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Arabia inflation rate up in April - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"DUBAI (Reuters) -Saudi Arabia\u2019s inflation rate quickened\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-20T09:12:07+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/05\/Saudi-Arabia-inflation-rate-up-in-April.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/\",\"name\":\"Saudi Arabia inflation rate up in April - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-05-20T09:12:07+00:00\",\"dateModified\":\"2021-05-20T09:12:07+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Markets\",\"item\":\"https:\/\/precoinnews.com\/category\/markets\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Saudi Arabia inflation rate up in April\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Saudi Arabia inflation rate up in April - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/","og_locale":"en_US","og_type":"article","og_title":"Saudi Arabia inflation rate up in April - Pre Coin News","og_description":"DUBAI (Reuters) -Saudi Arabia\u2019s inflation rate quickened","og_url":"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/","og_site_name":"Pre Coin News","article_published_time":"2021-05-20T09:12:07+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/05\/Saudi-Arabia-inflation-rate-up-in-April.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/","url":"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/","name":"Saudi Arabia inflation rate up in April - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-05-20T09:12:07+00:00","dateModified":"2021-05-20T09:12:07+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/markets\/saudi-arabia-inflation-rate-up-in-april\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Markets","item":"https:\/\/precoinnews.com\/category\/markets\/"},{"@type":"ListItem","position":3,"name":"Saudi Arabia inflation rate up in April"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/125751"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=125751"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/125751\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/125750"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=125751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=125751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=125751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}