GCC consumer prices rise by 4.3%

June 11, 2018 11:15 AM

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Muscat, June 10 (BNA): Over the 12 months to April 2018, Price change for consumer goods and services (excluding housing) in the Gulf Cooperation Council (GCC) countries rose by 4.3%, according to figures released yesterday by the Statistical Centre for GCC (GCC-Stat).

The biggest increases were for Tobacco 55.3%, Transport 8.9%, Restaurant & Hotels by 6.0%, Food 4.3%, Education 2.8%, Health 2.5%, Miscellaneous 2.0%, Communication 1.9%, Furnishings 1.7% and Recreation 1.6%. On the other hand, Clothing and Footwear fell by -1.7%.

In terms of contributions to the 4.3 percent annual increase, Transport contributed 1.5 percentage points, Food 1.1 percentage points, Tobacco & Restaurant & Hotels 0.5 percentage points each, Furnishings, Education and Miscellaneous 0.2 percentage points each. In contrast, The Clothing and Footwear contributed by -0.1 percentage points, according to Oman News Agency (ONA).

Over the 12 months to April 2018, the country contributions to overall GCC consumer price change were UAE 2.1 percentage points, Saudi Arabia 1.9 percentage points, Bahrain, Qatar and Kuwait contributed 0.1 percentage points each, and Oman 0.0 percentage points.

GCC overall consumer price have increased slightly by 0.1% in April 2018 compared with the previous month. The most significant price increased during April 2018 were in Clothing & Footwear by 0.5%, Recreation 0.4%, Food 0.3%, Tobacco 0.2 and Education 0.1%. In contrast Transport and Miscellaneous failed by -0.2% each, and Restaurant & Hotels by -0.1.

Source: bnaprodwebsite-1215491119.eu-west-1.elb.amazonaws.com

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