The prices of consumer goods and services in the GCC countries increased by 0.6% over the 12 months to October 2019

 

Issue date: 15 December 2019

 

The prices of consumer goods and services (excluding housing)[1] in the Gulf Cooperation Council countries increased by 0.6% Over the 12 months to October 2019, 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 Recreation 6.9%, Tobacco 2.7%, Miscellaneous 2.0%, Furnishings 1.5%, Education 1.4%, Health 1.2%, Restaurant & Hotels 1.1% and Food 0.4%. In contrast, Clothing and Footwear decreased by -1.8%, Transport group -1.7% and Communication -0.1%.

In terms of contributions, Recreation group contributed 0.3 percentage points, Furnishings and Miscellaneous contributed 0.2 percentage points each, Food, Education and Restaurant& Hotels 0.1 percentage points each. In contrast, Transport contributed -0.3 percentage points, Clothing and Footwear contributed -0.1 percentage points, while the rest of the groups did not record any contribution this month.

In terms of contributions to overall GCC consumer price change Over the 12 months to October 2019 Saudi Arabia contributed 0.55 percentage points, Kuwait contributed 0.21 percentage points, Bahrain 0.07 percentage points. In contrast UAE contributed -0.21 percentage points, Qatar -0.02 percentage points and Oman -0.01 percentage points.

GCC overall consumer price have no change in October 2019 compared with the previous month. The most significant price increases during October 2019 were in Recreation 1.1%, Clothing and Footwear 0.4%, Furnishings and Health 0.3% each, Restaurant & Hotels 0.1%. In contrast, Transport have decreased by -0.7%, Communication -0.2%, Food and Miscellaneous -0.1% each, while the rest of groups did not record any changes this month.

 

	Table 1. Aggregate GCC inflation
			Index points, 2007=100				Change, Percent
Main Groups		Weights Per cent	October 2018	September 2019	October 2019		October 2019/            September 2019	October 2019/             October 2018
Food and beverage		24.0%	150.5	151.2	151.1		-0.1	0.4
Tobacco		0.7%	288.7	296.4	296.6		0.0	2.7
Clothing and footwear		7.5%	110.3	107.9	108.3		0.4	-1.8
Furnishings, household equipment		10.5%	135.1	136.7	137.1		0.3	1.5
Health		2.7%	120.1	121.2	121.6		0.3	1.2
Transport		16.8%	136.8	135.5	134.5		-0.7	-1.7
Communication		9.5%	94.5	94.6	94.3		-0.2	-0.1
Recreation and culture		5.2%	113.5	120.0	121.3		1.1	6.9
Education		7.4%	156.4	158.5	158.6		0.0	1.4
Restaurants and hotels		7.5%	150.8	152.2	152.4		0.1	1.1
Miscellaneous		8.3%	135.5	138.3	138.1		-0.1	2.0
All Groups Excluding Housing		100.0	135.7	136.6	136.5		0.0	0.6

GCC CONSUMER PRICE CHANGE, SEPTEMBER 2019

 

 

KEY POINTS: October 2018 to October 2019

 THE GCC ALL GROUPS EXCLUDING HOUSING

• The prices of consumer goods and services (excluding housing) in the Gulf Cooperation Council countries was increased by 0.6% Over the 12 months to October 2019.
• The most significant price increases over the twelve months were for Recreation 6.9%, Tobacco7%, Miscellaneous 2.0%, Furnishings 1.5%, Education 1.4%, Health 1.2%, Restaurant & Hotels 1.1% and Food 0.4%. In contrast, Clothing and Footwear decreased by -1.8%, Transport group -1.7% and Communication -0.1%.

 

 CONTRIBUTIONS TO PRICE CHANGE OVER THE 12 MONTHS

• The most significant contributors to the GCC Inflation(excluding housing) were:
  • Recreation group contributed 0.3 percentage points.
  • Furnishings, and Miscellaneous contributed 0.2 percentage points each.
  • Food, Education and Restaurant & Hotels contributed 0.1 percentage points each.
  • Transport group contributed -0.3 percentage points.
  • Clothing and Footwear contributed -0.1 percentage points.
  • While the rest of the groups did not record any contribution this month.

 

• At the country level:
  • Saudi Arabia and Kuwait contributed 55, 0.21 percentage points respectively.
  • Bahrain contributed07 percentage points.
  • UAE contributed -0.21 percentage points, Qatar and Oman contributed -0.02 and
    -01 percentage points respectively.

 

KEY POINTS: September 2019 to October 2019

THE GCC ALL GROUPS EXCLUDING HOUSING

• GCC consumer price have no change in October 2019 compared with the previous month.

OVERVIEW OF CPI MOVEMENTS IN OCTOBER 2019

• The most significant price increases during October 2019 were in Recreation 1.1%, Clothing and Footwear 0.4%, Furnishings and Health 0.3% each, Restaurant & Hotels 0.1%. In contrast, Transport have decreased by -0.7%, Communication -0.2%, Food and Miscellaneous -0.1% each, while the rest of groups did not record any changes this month.

 

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 (https://www.gccstat.org/images/gccstat/docman/Standards/GCC_aggregate_inflation_-_methodology.pdf)

 

[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.