Prices of consumer goods, services in GCC increase

MUSCAT: The prices of consumer goods and services (excluding housing) in the Gulf Cooperation Council countries increased by 0.3 per cent over the 12 months to April 2019, according to figures released on Sunday by the Statistical Centre for the Cooperation Council of the Arab Countries of the Gulf (GCC-Stat). The biggest increases were for tobacco 2.5 per cent, restaurant and hotels 2.0 per cent, education 1.7 per cent, furnishings 1.1 per cent, recreation 0.7 per cent, health 0.5 per cent and food 0.3 per cent. In contrast, clothing and footwear decreased by -1.6 per cent, miscellaneous -1.0 per cent, communication -0.6 per cent, and transport -0.4 per cent.

In terms of contributions, Restaurant & Hotels group contributed 0.2 percentage points, Food, Furnishings and Education contributed 0.1 percentage points each. In contrast, Clothing and Footwear, Transport and Miscellaneous contributed -0.1 percentage points each while the rest of the groups did not record any contribution this month. In terms of contributions to overall GCC consumer price change over the 12 months to April 2019, Saudi Arabia and Kuwait contributed 0.1 percentage points each, Oman and Qatar contributed 0.03 percentage points each. In contrast, UAE contributed -0.03 percentage points, while Bahrain did not record any contribution this month.

GCC overall consumer price have increased slightly in April 2019 compared with the previous month by 0.2 per cent. The most significant price increases during April 2019 were in transport by 1.9 per cent, recreation 1.8 per cent, restaurant and hotels 0.5 per cent, health 0.3 per cent, furnishings 0.2 per cent, and education 0.1 per cent. In contrast, clothing and footwear prices decreased by -1.9 per cent, miscellaneous -0.9 per cent, food -0.2 per cent and communications -0.1 per cent while the tobacco did not record any changes. — ONA