Inflation rates across the GCC region ranged between 1.02 per cent and 3.11 per cent in October this year, compared with the same period last year, according to a report by the Statistical Centre for the Co-operation Council for the Arab Countries of the Gulf (GCC-Stat).

The UAE recorded the highest inflation rate among GCC member states, registering an increase of 3.11 per cent, followed by three pre cent in both Kuwait and Qatar, 2.6 per cent in Saudi Arabia, 2.5 per cent in Bahrain, while Oman registered the lowest inflation rate of 1.02 per cent, according to the GCC-Stat report.

When compared with figures during September, the October inflation rates showed a slight increase of 0.2 per cent in Saudi Arabia, 0.11 per cent in the UAE, 0.1 per cent in both Oman and Qatar, while prices in Bahrain and Kuwait remained stable, said a report in the Gulf Daily News (GDN), our sister publication.

Food and beverage prices also showed an increase over the 12-month period in most GCC member states.

Prices for this group increased by 3.72 per cent in the UAE, 3.5 per cent in Saudi Arabia, 2.9 per cent in Bahrain, 2.58 per cent in Kuwait and 1.04 per cent in Oman.

Meanwhile, Qatar was the only GCC country where prices for food and beverages decreased in October by 0.6 per cent, compared with the same period last year.

Pan-GCC figures showed that prices for housing, water, electricity, gas and other types of fuel witnessed the highest increase.

Qatar witnessing an increase of 8.2 per cent, followed by 5.2 per cent in Bahrain, 4.44 per cent in Kuwait, 4.17 per cent in the UAE, 2.8 per cent in Saudi Arabia and slight increase of 0.24 per cent in Oman.

Transportation prices, however, showed an increase in all the GCC countries.
It increased by 2.1 per cent in Bahrain, 2.04 per cent in Kuwait, 1.7 per cent in Qatar, 1.5 per cent in the UAE, 1.3 per cent in Saudi Arabia, and 0.51 per cent in Oman.

As for highest price growth within different groups of the general consumer price index in each GCC state, figures showed an increase over the 12-month period through October.

Tobacco prices increased by 12.2 per cent and 9.9 per cent in Kuwait and Bahrain respectively, while the prices of recreation and culture went up by 8.2 per cent in Saudi Arabia.

Meanwhile, the prices of housing, water, electricity, gas and other types of fuel recorded an increase of 8.2 per cent in Qatar, while prices for furniture and household goods in Oman grew by 6.03 per cent.

Miscellaneous goods and services in the UAE went up by 4.6 per cent over the 12-month period.

On the other hand, statistics revealed the highest decreases within the different groups of the general consumer price index.

Figures showed a decrease in clothing and footwear prices in Oman by 1.01 per cent, while prices of communications in Kuwait and Saudi Arabia went down by 0.69 per cent and 0.3 per cent respectively.

Tobacco, food and beverages in Qatar also dropped by 0.6 per cent, while prices of furniture and household items in Bahrain decreased by 0.9 per cent in the same period.

In contrast, no drop in prices witnessed in the UAE through October this year. - TradeArabia News Service