(MENAFN- Muscat Daily) Oman's inflation rate rose by 0.73 per cent between March 2013 and March 2014, the lowest in the GCC region, according to a report issued by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat).
Also, the maximum drop in voice and data communication rates was registered in Oman. The report stated that Kuwait recorded the highest inflation rates at 2.96 per cent, followed by Saudi Arabia and Qatar at 2.6 per cent, Bahrain at 2.3 per cent and UAE at 1.85 per cent.
In addition, between February and March 2014 Oman's inflation rate dropped by 0.06 per cent, while Kuwait and Qatar saw a 0.3 per cent rise, that of UAE rose 0.22 per cent, with Saudi Arabia saw a 0.2 per cent increase.
Meanwhile, Bahrain's consumer price index (CPI) between February and March this year remained static.
Among the main increases in GCC nations over the 12-month period through March 2014 were education costs, rising 6.24 per cent in Oman, five per cent in Bahrain, 4.39 per cent in UAE, 4.06 per cent in Kuwait and 3.7 per cent in Saudi Arabia.
Meanwhile food and beverage prices in Bahrain went up by 5.6 per cent, that of tobacco rose by 6.4 per cent in Saudi Arabia, housing and energy costs in Qatar rose by 5.7 per cent, while prices of furniture and household goods grew by 4.83 per cent in Kuwait.
The cost of voice and data communications dropped in most GCC nations. Oman registered a 4.62 per cent drop, while Kuwait saw a 1.28 per cent fall, followed by Saudi Arabia at 0.3 per cent and UAE marking a 0.08 per cent reduction.
The exception was Bahrain which saw a slight increase of 0.1 per cent in communications costs between March 2013 and March 2014.
Statistics revealed a decrease in medical care group prices in UAE, down 0.14 per cent, while transportation costs in Bahrain and Saudi Arabia fell 0.8 per cent and three per cent respectively.
GCC: INFLATION HIKE
Kuwait 2.96%
Saudi Arabia 2.6%
Qatar 2.6%
Bahrain 2.3%
UAE 1.85%
Oman 0.73%
Source:
Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (March 2013-March 2014)
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