{"id":367984,"date":"2020-08-17T09:16:53","date_gmt":"2020-08-17T03:46:53","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=367984"},"modified":"2020-08-17T10:29:53","modified_gmt":"2020-08-17T04:59:53","slug":"saudi-arabias-inflation-rate-surged-to-6-1-in-july-on-vat-hike","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-arabias-inflation-rate-surged-to-6-1-in-july-on-vat-hike\/","title":{"rendered":"Saudi Arabia&#8217;s inflation rate surged to 6.1% in July on VAT hike"},"content":{"rendered":"<p>Saudi Arabia\u2019s inflation quickened at the fastest pace since at least 2012 after the kingdom tripled its value-added tax. <\/p>\n<p>Consumer prices rose an annual 6.1% in July from 0.5% in June, data released by the General Authority for Statistics showed on Sunday. <\/p>\n<p>The increase was driven mainly by an acceleration in the cost of food and beverages &#8212; which rose more than 14% compared with last year &#8212; and transport, which rose 7.3%. <\/p>\n<p>Reductions in fuel and gasoline prices offset the broader inflation pickup. <\/p>\n<p>Saudi Arabia increased its value-added tax from 5% to 15% on July 1, part of the government\u2019s measures to compensate for lower oil prices as the coronavirus pandemic and crude market turmoil cut deeply into state revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia\u2019s inflation quickened at the fastest pace since at least 2012 after the kingdom tripled its value-added tax. Consumer prices rose an annual 6.1% in July from 0.5% in June, data released by the General Authority for Statistics showed on Sunday. The increase was driven mainly by an acceleration in the cost of food and beverages &#8212; which rose more than 14% compared with last year &#8212; and transport, which rose 7.3%. Reductions in fuel and gasoline prices offset the broader inflation pickup. Saudi Arabia increased its value-added tax from 5% to 15% on July 1, part of the [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-367984","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/367984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=367984"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/367984\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=367984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=367984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=367984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}