GCC consumer prices up 4.2 pc in June

MUSCAT: Over the 12 months till June 2018, price change for consumer goods and services (excluding housing) in the GCC countries rose by 4.2 per cent, according to figures released by GCC-Stat, the Statistical Centre for the Cooperation Council of the Arab Countries of the Gulf. The biggest increases were for tobacco 20.5 per cent, transport 9.4 per cent, restaurant and hotels by 5.9 per cent, recreation 4.0 per cent, food 3.7 per cent, education 2.9 per cent, health 2.5 per cent, communication and miscellaneous 2.1 per cent each, and furnishings 2.0 per cent. On the other hand, clothing and footwear fell by 1.3 per cent.
In terms of contributions to the 4.2-per cent annual increase, transport contributed 1.5 percentage points, food 1.0 percentage points, restaurant and hotels 0.5 percentage points, education 0.3 percentage points, and tobacco, furnishings, recreation and miscellaneous 0.2 percentage points each, health and communication 0.1 percentage points each. In contrast, the clothing and footwear contributed by 0.1 percentage points. Over the 12 months to June 2018, the country contributions to overall GCC consumer price change were UAE 2.1 percentage points, Saudi Arabia 1.7 percentage points, Bahrain, Oman, Qatar and Kuwait contributed 0.1 percentage points each.
GCC overall consumer prices have increased in June 2018, compared with the previous month by 0.6 per cent. The most significant price rises during June 2018 were in transport 1.4 per cent, food 1.0 per cent, clothing and footwear 0.8 per cent, recreation 0.3 per cent and furnishings by 0.2 per cent. In contrast, communication and miscellaneous fell by -0.1 per cent each. — ONA