Oman registers lowest GCC inflation rates in July 2015

9/12/2015 8:05:03 AM

(MENAFN- Muscat Daily) Muscat-

The GGC inflation index recorded in July 2015 rates that ranged between 0.46% in the Sultanate and 4.43% in the United Arab Emirates (UAE) compared to the same month of 2014 based on the latest statistics issued by the GCC-Stat.

Among the GCC member states the highest inflation rate was recorded in the UAE at 4.43% followed by State of Kuwait at 3.62% the Kingdom of Saudi Arabia at 2.2% State of Qatar at 1.6% Kingdom of Bahrain at 1.1% and the Sultanate at 0.46%.

Compared with the general index of June 2015 the inflation index of July 2015 shows a slight increase in State of Qatar by 0.6% the Sultanate by 0.53% the kingdom of Saudi Arabia by 0.3% the United Arab Emirates by 0.29% State of Kuwait by 0.07% in contrast Kingdom of Bahrain decreased by 0.2%.

Compared with the same month last year the prices of the "Food and beverage" group increased in July 2015 in most of the GCC countries: in the State of Kuwait by 4.13 % followed by the United Arab Emirates by 3.40% the Kingdom of Saudi Arabia 2.2% and the Sultanate by 0.97% and the State of Qatar by 0.9%. In contrast prices of this group fell in the Kingdom of Bahrain by 0.07%.

In July 2015 the "Housing water electricity gas and other fuels" group showed an overall increase across all GCC member states compared with the same month last year rising by 9.95% in the United Arab Emirates followed by 6.54% in the State of Kuwait 3.6% in the Kingdom of Saudi Arabia and both Kingdom of Bahrain and the State of Qatar by 2.3% for each and finally by 0.44% in the Sultanate.

The "Transport" group also recorded an increase in all GCC countries during the month of July 2015 compared to the same month of the previous year. As the transport prices rose in the State of Qatar by 3.2% the Kingdom of Saudi Arabia by 1.1% the Sultanate by 0.49% the State of Kuwait by 0.40% the Kingdom of Bahrain by 0.3% and the United Arab Emirates by 0.16%.

The data showed that the highest price rises among the main expenditure groups by country in July 2015 compared with the same month last year were as follows: The "Education" group in both the State of Qatar and the Sultanate by 11.1% and 4.49% respectively. Followed by the "Housing water electricity gas and other fuels" group in the United Arab Emirates by 9.95% the "Restaurants and hotels" group in the State of Kuwait by 6.88% and "Health" group in the Kingdom of Bahrain by 4.5% the "Furniture and Household Goods" group in the Kingdom of Saudi Arabia by 3.7%.

On the other hand the data indicated that the largest price decreases among the major expenditure groups in each of the GCC countries in July 2015 compared with the same month last year were as follows: the "clothing and footwear" in the United Arab Emirates the Sultanate and the State of Kuwait by 3.03% 2.02% and 1.54% respectively. The "Culture and entertainment" group in the State of Qatar decreased by 2.8% the "Restaurants and hotels" group in the Kingdom of Saudi Arabia by 1.2% and the "Food and beverage" group in the Kingdom of Bahrain by 0.7%.

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