Consumer Prices Experience Increase, in their General Level by 1.9%

The Gulf Cooperation Council (GCC) Consumer Prices experienced, an increase in their level by 1.9%, during the November 2021, compared to the same period, in the previous year.

Culture and entertainment group witnessed an increase of 8.3%, the transportation group 8.2%, the education group 3.8%, the food and beverage group 2.5%, the restaurants and hotels group 1.8%, and the furniture and household equipment group 1.4%, Data issued by the GCC Statistical Center indicated.

Miscellaneous goods and services group rose 1.3%, the communications group 1.2%, and the tobacco group 0.3%, all were on the rise.

In contrast, the prices of the housing group decreased by -1.6%, and the clothing and footwear group -0.1%, while the prices of the health group stabilized at their previous levels.

With regard to the contributions of the main groups to the general Gulf inflation, in November 2021, the transportation group contributed 1.1 percentage points of the total Gulf-wide inflation rate of 1.9%, the food and beverage group by 0.5 percentage points, and the culture and entertainment group by 0.3 percentage points, and all of the furniture group, communications group, education group, restaurants and hotels group, and miscellaneous goods and services group by 0.1 percentage point each, in contrast, the housing group contributed a negative contribution of -0.4 percentage points, while the rest of the groups did not , during that month.

In terms of the contribution of the  6 GCC states to the general Gulf inflation in November 2021, the Kingdom contributed 0.7 percentage points, the UAE contributed 0.4 percentage points, while the rest of the member states, collectively, contributed 0.8 percentage points.

The center’s data indicated that consumer prices, in the GCC countries witnessed a slight increase in their price level by 0.3% in November 2021 compared to the previous month.

The most important groups that witnessed an increase were: the culture and entertainment group by 2.0%, and the group of miscellaneous goods and services by 1.2%, the transportation group is 0.8%, the restaurants and hotels group is 0.2%, and the food and beverage group is 0.1%.

In contrast, prices in the furniture group have decreased by -0.2%, while the prices of the rest of the groups have remained, at their previous levels.