DOHA: inflation rates across the GCC region ranged between 3.1 percent and 0.8 percent over a 12-month period through December 2014, according to the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) here the other day.
The highest annual inflation rise was registered in the United Arab Emirates with 3.1 percent, followed by 3.04 percent in Kuwait, 2.7 percent in Qatar, 2.5 percent in Bahrain and 2.4 percent in Saudi Arabia. Oman registered the lowest rise, compared to the GCC countries, by 0.08 percent.
On a monthly basis when comparing the December figures to the November figures, the general consumer price index registered an increase of 0.97 percent in Kuwait, 0.34 percent in the United Arab Emirates, 0.2 percent in Bahrain, 0.1 percent in Saudi Arabia. On the other hand it registered a decline by 0.3 percent in Qatar and 0.08 percent in Oman.
When compared to December 2013, foods and drinks prices registered an increase in most of the GCC countries by December 2014. Bahrain and Saudi Arabia registered an increase of 2.6 percent, following was Kuwait with an increase of 2.57 percent, Oman by 0.22 percent, United Arab Emirates by 1.33 percent. Qatar registered a decline of 0.4 percent.
Figures showed an increase in housing and utility prices in all the GCC countries in December 2014 when compared with 2013 figures. Qatar registered an increase of 7.3 percent, following was Bahrain by 6.1 percent, United Arab Emirates by 5.39 percent, Kuwait by 5.03 percent, Saudi Arabia by 2.5 percent, and a marginal increase by 0.38 percent in Oman.
Transport prices also increased in the GCC countries in December 2014 when compared to the same period in 2013. United Arab Emirates registered an increase of 1.82 percent, following was Kuwait by 1.54 percent, Saudi Arabia by 1.5 percent, Qatar by 1.2 percent, Bahrain by 0.5 percent and Oman by 0.31 percent.
As for the main consumer price categories in each of the GCC member state, statistics show an annual increase of 11.84 percent in the prices of tobacco in Kuwait, while the recreation and culture prices went up by 9.0 perc ent in Saudi Arabia.
Housing and utility prices also increased in Qatar and United Arab Emirates by 7.3 percent and 5.39 percent respectively, whereas health services increased by 6.6 percent in Bahrain, and furniture and household goods in Oman grew by 5.8 percent.
In contrast, the major declines in December 2014 when compared to the same period during 2013 were registered in clothing and footwear by 1.03 percent in Oman, 0.64 percent in United Arab Emirates, 0.15 percent in Kuwait.
