Saudi producer prices jump 7.5% in May on manufacturing gains: GASTAT

RIYADH: Saudi Arabia’s producer prices climbed 7.5 percent year on year in May as higher manufacturing costs, led by chemicals and refined petroleum products, pushed wholesale prices higher, official data showed. Manufacturing, the largest component of the Producer Price Index, rose 8 percent from a year earlier, according to the General Authority for Statistics. The increase was led by a 15.2 percent jump in chemicals and chemical products, followed by a 12.7 percent rise in wearing apparel and a 10.7 percent increase in refined petroleum products.

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