GCC Consumer Prices Rose by3.7 During Dec.2018

Muscat, Price level for consumer goods and services (excluding

housing) in the GCC countries rose by 3.7% during December 2018, according to figures

released today by GCC-Stat, the Statistical Centre for Cooperation Council of the Arab

Countries of the Gulf.

The biggest increases were for tobacco 10.3%, transport 6.2%, restaurant and hotels by

6.0%, food 3.8%, furnishings 3.6%, health 2.8%, recreation 2.1%, education 2.0%, clothing

and footwear 1.9%, communication 1.7%, and miscellaneous services 1.0%.

In terms of contributions to the 3.7 percent annual increase, food and transport

contributed 1.0 percentage points each, restaurant and 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 December 2018, the contributions to overall GCC consumer price

change were almost exclusively from Saudi Arabia and UAE, with 4.2 and 1.0 percentage

points of the total 3.7 percent. Kuwait contributed 0.1 percentage points, while Bahrain, the

Sultanate and Qatar all contributed less than 0.1 percent this month.

GCC overall consumer price have decreased slightly in December 2018 compared with

the previous month by 0.2%. The most significant price decreases during December

2018 were in transport group by 0.7%, food 0.5%, clothing -0.2%, and communication -

0.1%. In contrast, recreation prices increased by 1.0%, tobacco 0.2%, health,

education, and restaurant and hotels 0.1% each, while there is no change of prices in

furnishings, and miscellaneous compared with the previous month.

Source: Oman News Agency