Economy
GCC sees a 4.2% increase in consumer goods prices in 2018
Over the 12 months to October 2018, price change for consumer goods and services (excluding housing) in the Gulf Cooperation Council (GCC) countries rose by 4.2%, according to figures released today by the GCC Statistical Center.
The biggest increases were registered for tobacco 10.2%, transport 9.1%, restaurant and hotels by 6.5%, food 4.2%, recreation 3.2%, furnishings 3.1%, health 2.6%, education 2.0%, communication 1.6%, miscellaneous 0.8%, and clothing and footwear 0.7%.
In terms of contributions to the 4.2% annual increase, transport contributed 1.5%, food 1.1%, restaurant and hotels 0.5%, furnishings 0.3%, education 0.2%, “tobacco”, “health”, “communication”, “recreation” and “miscellaneous” 0.1% each.
Over the 12 months till October 2018, the country contributions to overall GCC consumer price change were Saudi Arabia 2.3%, UAE 1.7%, the Sultanate and Kuwait 0.1% each while there is no contribution recorded in Bahrain and Qatar this month.
The GCC overall consumer price decreased in October 2018 compared with the previous month by -0.2%. The most significant price decrease during October 2018 were in transport -0.9%, miscellaneous -0.3%, furnishings -0.2%, “clothing”, “health” and “restaurant and hotels” by -0.1% each. In contrast, “Food” and “Education” prices
increased by 0.2% each while there is no change in prices of “Tobacco”, “Communication” and “Recreation” compared with the previous month.
The most significant price decrease during October 2018 were in transport -0.9%, miscellaneous -0.3%, furnishings -0.2%, “clothing”, “health” and “restaurant and hotels” by -0.1% each. In contrast, “Food” and “Education” prices increased by 0.2% each while there is no change in prices of “Tobacco”, “Communication” and “Recreation” compared with the previous month.
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