Kuwait tops in GCC inflation, Oman lowest
Dubai, May 25, 2014
Kuwait registered the highest rate of inflation among the GCC countries with an increase of 2.96 per cent, followed by Saudi Arabia and Qatar with 2.6 per cent in the first quarter, said a report.
Bahrain saw its inflation grow 2.3 per cent by the end of March, while the UAE registered a 1.85 per cent growth in the index.
Among the GCC states, Oman registered the lowest rate with a 0.73 per cent increase in the consumer price index, revealed the report issued by the Statistical Centre for the Gulf Co-operation Council for the Arab Countries of the Gulf (GCC-Stat).
Category wise, education topped the regional inflation list in the UAE with a 4.39 per cent growth besides 6.24 per cent jump in Oman, while food & beverage prices in Bahrain went up by 5.6 per cent, stated the report.
Tobacco prices in Saudi Arabia also increased by 6.4 per cent. Housing and Energy costs recorded highest increases in Qatar, growing by 5.7 per cent, while costs for furniture and household goods in Kuwait went up by 4.83 per cent.
On the other hand, statistics revealed a sharp drop in the medical care group prices in the UAE which fell by 0.14 per cent, while transportation costs in Bahrain and Saudi Arabia were down by 0.8 per cent and three per cent respectively, according to the GCC-Stat.
Overall pan-GCC figures show that steep hike in education costs led to inflation growth, increasing by 6.24 per cent in Oman, five per cent in Bahrain, 4.39 per cent in the UAE, 4.06 per cent in Kuwait and 3.7 per cent in Saudi Arabia, it added.-TradeArabia News Service