Saudi wholesale prices rise 4.6% in August as basic chemical prices surge 51.4%

Saudi Arabia's wholesale prices experienced a notable surge of 4.6% on an annual basis in August 2026, primarily propelled by a significant 8.2% increase in the prices of other transportable goods and a 2.2% rise in metal products, machinery, and equipment. According to the General Authority for Statistics (GASTAT), basic chemical prices witnessed an exceptionally sharp 51.4% annual increase.

The price uptick in metal products, machinery, and equipment was supported by a 5.4% annual increase in basic metals and a substantial 10.5% rise in fabricated metal products. Agriculture and fishery product prices ascended by 4.8% annually, primarily fueled by a 9% surge in agricultural commodities. Conversely, ores and minerals experienced a slight decline of 1.8%, coinciding with a parallel decrease in stone and sand prices.

On a month-to-month basis, the Wholesale Price Index (WPI) contracted by 0.2% in August compared to July. Notably, the price of other transportable goods experienced a decline of 1% due to a 6.2% decrease in basic chemical prices and a 0.5% drop in glass and non-metallic products. Agriculture and fishery product prices saw a 1.5% month-on-month decline, driven by an 8.5% reduction in the prices of live animals and animal products.

Ores and minerals declined by 2% due to an equivalent decrease in stone and sand prices. Meanwhile, the prices of metal products, machinery, and equipment rose by 0.8% monthly, driven by an 8.6% surge in the cost of fabricated metal products. Food products, beverages, tobacco, and textiles prices remained relatively stable, with a modest 0.6% increase month-on-month as prices of meat, fish, fruits, vegetables, oils, and fats rose by 2.6%, while dairy products increased by 0.3%.