MUSCAT, Jan 7 : The GCC Statistical Center announced that consumer price data showed an increase in the average inflation rate in GCC countries by the end of September 2024 by 1.5 percent, compared to the same month in 2023. A Center report said that the increase was mainly due to the prices of the housing category, which recorded an increase of 5.7 percent, followed by the culture and entertainment category with 2.6 percent. The commodities and services category comes next with 1.8 percent, then the restaurants and hotels category with 1.5 percent, and the food and beverage category and the education category with one percent each. The report noted that prices decreased in the transportation category by three percent, the furniture and household equipment category by 2.3 percent, the tobacco category by 1.2 percent, the communications category by 0.9 percent, and the clothing and footwear category by 0.8 percent.

Meanwhile the prices of the health category remained stable at their previous levels. The report indicated that Kuwait had the highest inflation rate among the GCC countries during last September, compared to the same month in 2023, reaching 2.8 percent, followed by Saudi Arabia with 1.7 percent, Qatar with 0.8 percent, and Bahrain and Oman with 0.4 percent each. The report pointed out that the general Gulf inflation rate was lower than the European Union inflation rate of 2.1 percent, and was lower than many of the GCC’s main trading partners in total commodity imports. It indicated that Brazil recorded the highest inflation rate last September, compared to the same month in 2023 at 4.4 percent, followed by India with 4.2 percent, the United Kingdom with 2.6 percent, Japan with 2.5 percent, the United States with 2.4 percent, and Germany and South Korea with 1.6 percent each. The Muscat-based Center is the official body accredited for data, information and statistics related to the GCC countries, in addition to enhancing the work of national statistical centers and planning agencies in member states. (KUNA)