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GCC inflation inches up to 0.3% in April

GCC inflation inches up to 0.3% in April
The increase in inflation was primarily caused by seven key groups

Mubasher: The Consumer Price Index (CPI), excluding housing, has marginally risen in the GCC by 0.3% year-on-year last April.

The inflation rate registered 134.8 points in April 2019, compared to 134.5 points in the corresponding month last year, according to the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat).

The increase in inflation was primarily caused by seven key groups that were topped by tobacco with 2.5%, followed by restaurants and hotels with 2%, education with 1.7%, furniture and home equipment and maintenance with 1.1%, as well as culture and entertainment with 0.7%.

The prices of health basket, in addition to the food and non-alcoholic drinks group edged up by 0.5% and 0.3% respectively, compared to a shrink in four groups topped by clothes and shoes with 1.6%, goods and other services with 1%, followed by telecommunications and transport with 0.6% and 0.4%, respectively.

Saudi Arabia and Kuwait have contributed with one percentage, each, in April’s inflation in the Gulf region, followed by Oman and Qatar with 0.03%, each; the UAE registered -0.03%, while Bahrain did not contribute in the inflation.

Month-on-month, the GCC’s inflation rate, excluding housing, went up 0.2% in April this year, compared to 134.5 points last March.