GCC CONSUMER PRICE CHANGE, APRIL 2017

Over the 12 months to April 2017, Price change for consumer goods and services (excluding housing)[1] in the Gulf Cooperation Council countries rose by 0.8 percent, according to figures released today by GCC-Stat, the Statistical Center for the Cooperation Council of the Arab Countries of the Gulf.

The biggest increases were for Miscellaneous 4.9 percent, Education 3.7 percent, and Transport 3.3 percent. Food and beverages fell -1.6 percent, as well as Recreation fell -1.0 percent.

In terms of contributions to the 0.8 percent annual increase, Transport contributed 0.5 percentage points, Miscellaneous 0.4 percentage points, Education 0.3 percentage points, Furnishing contributed 0.1 percentage points. The Food group made a -0.4 percentage points contribution.

Over the 12 months to April 2017, the country contributions to overall GCC consumer price change were: UAE 1.0 percentage points, Oman 0.1 percentage points, Kuwait 0.1 percentage points, Qatar 0.1 percentage points and Bahrain 0.0 percentage points. Saudi Arabia contributed -0.5 percentage points

GCC consumer price change decreased slightly by 0.1 percent in April 2017 compared with the previous month. The most significant price declines during April 2017 were in Transport -1.4 percent, Communications -0.4 percent, and Restaurants & Hotel -0.1 percent. Offsetting these were rises in Recreation 0.9 percent, Clothing 0.3 percent, Food and beverages 0.2 percent and, Health and Education 0.1 percent each.

 

GCC CONSUMER PRICE CHANGE, APRIL 2017

	Table 1. Aggregate GCC inflation
			Index points, 2007=100				Change, Percent
Main Groups		Weights Per cent	April 2016	Mar 2017	April 2017		April 2017 / Mar 2017	April 2017 / April 2016
Food and beverage		25.1	145.8	143.3	143.5		0.2	-1.6
Tobacco		0.5	181.3	182.5	182.5		0.0	0.7
Clothing and footwear		8.7	114.8	113.8	114.2		0.3	-0.5
Furnishings, household equipment		10.4	136.1	136.7	136.7		0.0	0.5
Health		2.7	120.0	121.6	121.7		0.1	1.4
Transport		16.7	120.6	126.3	124.5		-1.4	3.3
Communication		8.9	95.2	96.1	95.8		-0.4	0.6
Recreation and culture		5.1	120.7	118.4	119.5		0.9	-1.0
Education		6.2	150.9	156.4	156.6		0.1	3.7
Restaurants and hotels		6.7	132.2	132.5	132.4		-0.1	0.2
Miscellaneous		8.9	130.0	136.3	136.3		0.0	4.9
All Groups Excluding Housing		100.0	129.6	130.8	130.6		-0.1	0.8

 

 

 

 

 

KEY POINTS: APRIL 2016 TO APRIL 2017

 THE GCC ALL GROUPS EXCLUDING HOUSING

• Rose 0.8 percent over the twelve months, down from the 1.4 percent rise over the period March 2016 to March 2017.
• The most significant price rises over the twelve months were Miscellaneous 4.9 percent, Education 3.7 percent, and Transport 3.3 percent. Food and beverages fell -1.6 percent, as well as Recreation fell -1.0 percent.

 CONTRIBUTIONS TO PRICE CHANGE OVER THE 12 MONTHS

• Of the 0.8 percent growth in GCC Consumer Prices over the 12 months to April 2017, the most significant contributors were:
  • Transport contributed 0.5 percentage points.
  • Miscellaneous contributed 0.4 percentage points.
  • Education contributed 0.3 percentage points.
  • Food and beverages contributed -0.4 percentage points.
• At the country level:
  • UAE contributed 1.0 percentage points.
  • Oman 0.1 percentage points.
  • Kuwait 0.1 percentage points.
  • Qatar 0.1 percentage points.
  • Bahrain 0.0 percentage points.
  • Saudi Arabia contributed -0.5 percentage points.

 

KEY POINTS: APRIL 2017


THE GCC ALL GROUPS EXCLUDING HOUSING

• Declined -0.1 percent this month, compared with a rise of 0.2 percent in the March 2017.

OVERVIEW OF CPI MOVEMENTS IN APRIL 2017

• The most significant price declines this month are Transport -1.4 percent, Communications -0.4 percent, Restaurants & Hotel -0.1 percent.
• The most significant offsetting price rise this month were Recreation 0.9 percent, Clothing 0.3 percent, Food and beverages 0.2 percent and, Health and Education 0.1 percent each.

 

Further information and statistics are available from the GCC-Stat website: http://www.gccstat.org
For more details on the construction of the GCC index of consumer price change, see (http://gccstat.org/en/elibrary/publications/gccstat/item/aggregate-gcc-inflation)

 

[1]  GCC-Stat compiles an aggregate inflation measure for the whole GCC region. This aggregate excludes the “Housing, water, electricity, gas and other related items” group from national indices, for which the data are deemed non-comparable due to methodological differences that significantly hinders cross-country comparisons. The national CPI data are weighted into a GCC aggregate using Purchasing power parity adjusted estimates of relevant national household consumption expenditures.