GCC Consumer Prices Rise 4.3 Percent in November 2018

Muscat, Over the 12 months to November 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 today by the Statistical Center for the Cooperation Council of the Arab Countries of the Gulf (GCC-Stat).

The biggest increases were for Tobacco 10.2%, Transport 9.1%, Restaurant & Hotels by 6.7%, Food 4.3%, Furnishings 3.4%, Health 2.6%, Recreation 2.5%, Education 1.9%, Communication 1.6%, Clothing and Footwear 1.4%, and Miscellaneous 1.0%.

In terms of contributions to the 4.3 percent annual increase, Transport contributed 1.5 percentage points, Food 1.1 percentage points, Restaurant & Hotels 0.5 percentage points, Furnishings 0.4 percentage points, Education 0.2 percentage points, Tobacco, Clothing and Footwear, Health, Communication, Recreation and Miscellaneous 0.1 percentage points each.

Over the 12 months to November 2018, the country contributions to overall GCC consumer price change were Saudi Arabia 2.5 percentage points, UAE 1.6 percentage points, Oman and Kuwait 0.1 percentage points each, while there is no contribution recorded in Bahrain and Qatar this month.

GCC overall consumer price have decreased in November 2018 compared with the previous month by -0.1%. The most significant price decrease during November 2018 were in Recreation group by -0.9%, Furnishings and Transport by -0.3% each, and Food -0.1%. In contrast, Clothing prices increased by 0.3%, Restaurant & Hotels and Miscellaneous 0.1% each, while there is no change in prices of Tobacco, Health, Communication and Education compared with the previous month.

Source: Oman News Agency