MUSCAT: Inflation in Gulf Cooperation Council (GCC) countries rose by 1.5 per cent by the end of September 2024, compared to the same period in 2023, according to the Gulf Statistical Center.
Kuwait recorded the highest inflation rate at 2.8 per cent, followed by Saudi Arabia at 1.7 per cent. Qatar reported 0.8 per cent, while Oman and Bahrain each recorded 0.4 per cent.
The increase was driven by a 5.7 per cent rise in housing prices, 2.6 per cent in culture and entertainment, 1.8 per cent in goods and services, 1.5 per cent in restaurants and hotels, and 1.0 per cent in both food and beverages and education.
However, transportation costs fell by 3 per cent, furniture and household equipment by 2.3 per cent, tobacco by 1.2 per cent, communications by 0.9 per cent, and clothing and footwear by 0.8 per cent. Health group prices remained unchanged. — ONA
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