Inflation in Qatar highest in GCC

July 13, 2014 - 5:37:45 am

DOHA: The inflation rate in Qatar is the highest among the GCC countries. The latest inflation figures from the region for the 12-month period through May 2014 reveal that Qatar topped the list with 3.4 percent.

Kuwait has the second-highest inflation rate in the region, at 2.9 percent, while it is 2.7 percent in Saudi Arabia, 2.1 percent in the United Arab Emirates, 1.9 percent in Bahrain, and 1.5 percent in Oman, the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) announced yesterday.

When compared to April 2014 figures, inflation rates witnessed an increase of 0.5 percent in Qatar, 0.2 percent in the UAE, Oman and Kuwait, while a 0.1 percent increase was registered in Saudi Arabia. Meanwhile, inflation figures in Bahrain for the month of May 2014 remained stable when compared to the figures of April 2014.

As for price growth within groups of the general consumer price index in each GCC member state, Housing and Energy costs increased in Qatar by seven percent over the 12-month period through May 2014. Furniture and Household Goods increased by 4.7 percent, 5.2 percent and 7.4 percent in the UAE, Kuwait and Oman, respectively, while Education in Bahrain increased by 5 percent. Meanwhile, tobacco prices in Saudi Arabia grew by 6.4 percent.

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