Consumer Prices across GCC Member States, Rise

Consumer prices for the Gulf Cooperation Council (GCC) member states, witnessed an increase of 1.5% in the month of October 2021 compared to the same period, in the previous year.

Transportation group witnessed an increase of 8.0%, followed the culture and entertainment group at 7.0%, the education group posted 4.0%, the food and beverage group at 2.1%, the restaurants and hotels group 1.6%, the furniture and home furnishings group 1.2%, and the communications group 1.1%, data issued by the GCC Statistical Center indicated, adding that tobacco rose by 0.4%, and miscellaneous goods and services 0.1%.

In contrast, the prices of the housing group decreased by -1.9%, and the clothes and shoes group by -0.2%, while the prices of the health group stabilized, at their previous levels.

It indicated that with regard to the contributions of the major groups to the general Gulf inflation in October 2021, the transportation group contributed 1.0 percentage point to the total Gulf inflation rate of 1.5%, the food and beverage group added 0.4 percentage points, and the culture and entertainment group 0.2 percentage points, and all of the furniture group, communications group, education group, restaurants and hotels group by 0.1 percentage point, each.

To the contrary, the housing group contributed negatively -0.5 percentage point, while the rest of the groups did not record any significant contribution, during that month.

As for the contribution of the 6 GCC countries to the general Gulf inflation for the month of October 2021, the Kingdom of Saudi Arabia contributed by 0.5 percentage point, the Emirates by 0.3 percentage point, while the rest of the member states contributed by 0.7 percentage point, apiece.