Over the 12 months to November 2017, GCC consumer prices rose by 1.4%

Over the 12 months to November 2017, Price change for consumer goods and services (excluding housing)[1] in the Gulf Cooperation Council countries rose by 1.4%, 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 Tobacco 80.5%, Miscellaneous 4.1%, Education 3.1%, and Transport 1.2%. On the other hand, Recreation fell by -2.6%, as well as Clothing and Footwear fell by -0.8% and Restaurant & Hotels by -0.4%.

In terms of contributions to the 1.4 percent annual increase, Tobacco contributed 0.6 percentage points, Miscellaneous 0.4 percentage points, Transport and Education 0.2 percentage points each, in contrast, The Clothing and Recreation groups contributed by -0.1 percentage points each.

Over the 12 months to November 2017, the country contributions to overall GCC consumer price change were UAE 0.8 percentage points, Saudi Arabia and Kuwait 0.2 percentage points each, Bahrain, Oman and Qatar 0.1 percentage points each.

GCC consumer price have slightly increased in November 2017 by 0.1% compared with the previous month. The most significant price rises during November 2017 were in Communications 0.6%, Furnishings 0.3%, and Miscellaneous 0.2%. In contrast, Food and Clothing & Footwear both fell by -0.1% each.

 

GCC CONSUMER PRICE CHANGE, November 2017

	Table 1. Aggregate GCC inflation
			Index points, 2007=100				Change, Percent
Main Groups		Weights Per cent	November 2016	October 2017	November 2017		November 2017 / October 2017	November 2017 / November 2016
Food and beverage		25.1	145.5	146.3	146.1		-0.1	0.5
Tobacco		0.5	182.3	328.9	329.0		0.0	80.5
Clothing and footwear		8.6	114.9	113.8	113.9		0.1	-0.8
Furnishings, household equipment		10.5	136.8	136.7	137.2		0.3	0.2
Health		2.7	121.4	122.2	122.3		0.0	0.7
Transport		16.8	124.2	125.7	125.7		0.0	1.2
Communication		8.9	95.3	95.6	96.2		0.6	0.9
Recreation and culture		5.1	120.9	117.7	117.7		0.0	-2.6
Education		6.3	156.2	160.9	161.0		0.0	3.1
Restaurants and hotels		6.8	133.7	133.2	133.1		-0.1	-0.4
Miscellaneous		8.8	131.6	136.7	137.0		0.2	4.1
All Groups Excluding Housing		100.0	130.9	132.6	132.7		0.1	1.4

 

KEY POINTS: NOVEMBER 2016 TO NOVEMBER 2017

 THE GCC ALL GROUPS EXCLUDING HOUSING

• Rose 1.4 percent over the twelve months, compared to 3% rise over the period October 2016 to October 2017.
• The most significant price rises over the twelve months were for Tobacco 80.5%, Miscellaneous 4.1%, Education 3.1%, and Transport 1.2%. On the other hand, Recreation fell by -2.6%, as well as Clothing and Footwear fell -0.8% and Restaurant & Hotels by
  -0.4%.

 

 CONTRIBUTIONS TO PRICE CHANGE OVER THE 12 MONTHS

• Of the 1.4 percent growth in GCC Consumer Prices over the 12 months to November 2017, the most significant contributors were:
  • Tobacco contributed 0.6 percentage points.
  • Miscellaneous contributed 0.4 percentage points.
  • Transport and Education contributed 0.2 percentage points each.
  • Clothing and Recreation by -0.1 percentage each.

 

• At the country level:
  • UAE contributed 0.8 percentage points.
  • Saudi Arabia 0.2 percentage points.
  • Kuwait 0.2 percentage points.
  • Bahrain 0.1 percentage points.
  • Oman 0.1 percentage points.
  • Qatar 0.1 percentage points.

 

KEY POINTS: NOVEMBER 2017

THE GCC ALL GROUPS EXCLUDING HOUSING

• GCC consumer price have slightly increased in November 2017 by 0.1% compared with the previous month.

OVERVIEW OF CPI MOVEMENTS IN NOVEMBER 2017

• The most significant price rise this month are Communications 0.6%, Furnishings 0.3%, and Miscellaneous 0.2%.  
• The most significant offsetting price declines this month were Food and Clothing & Footwear both fell by -0.1% 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.