22 Nov 2024

Last update 21 / 12 / 2016

Gastat: the Wholesale Prices Index decreases by 0.7%

 

7 sections has decreased, and an increase in the manufactured commodities and fats & oils 
Gastat: the Wholesale Prices Index decreases by 0.7%

On Tuesday 21 Rabi'e Al-awwal, 1438 corresponding to December 19 2016, GaStat issued its monthly indicator of the Saudi Wholesale Prices Index of November. It is now published on its official website www.stats.gov.sa. The indicator recorded (160.7) with 0.7% decrease in November 2016, compared to last month (October) in which it recorded (161.8).
The indicator includes ten main sections; Food and living animals section, beverages and tobacco section, raw materials except fuel, mineral fuel and related products section, Fats and oils section, chemical materials and related products, manufactured commodities classified by material section, transportation equipment and machines section, diverse manufactured commodities section, and other commodities section. 
The report attributed the increase of the wholesale prices index in November to the decrease of the 6 main sections that constitute this indicator: other commodities by (3.2%), Food and living animals section by (1.8%), transportation equipment and machines section by (0.8%), chemical materials and related products by (0.4%), miscellaneous manufactured commodities section by (0.3%), beverages and tobacco section by (0.1%), raw materials except fuel by (0.1%),. On the other hand, 2 of the main sections have increased: manufactured commodities classified by material section by (0.2%), fats and oils section by (0.1%), whereas the mineral fuel and related products section remained the same without any changes.
The authority indicated that the Saudi wholesale index measures the average of change in the prices of commodities and services that are sold in the primary markets. What matters here is the price change only. Therefore, the changes that result from the differences in quality, quantity, shipping method, or any other influencing factor in order to get the net price are excluded. This index is provided to everyone, and conducted all over Saudi Arabia. 
It is worth mentioning that the wholesale price index is used to record any change in the prices of local or imported commodities. In addition, it monitors the price trends and the status of markets and costs of living. Furthermore, it is used in preparing the national accounts by protecting the income and national aggregates from the influence of price change.  

 

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