The prices of consumer goods and services in the GCC countries increased by 0.8% over the 12 months to November 2019

Issue date: 15 January 2020

The prices of consumer goods and services (excluding housing)[1] in the Gulf Cooperation Council countries increased by 0.8% Over the 12 months to November 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 8.0%, Tobacco 2.8%, Furnishings 1.9%, Miscellaneous 1.8%, Education 1.4%, Health 1.3%, Restaurant & Hotels 1.1% and Food 0.6%. In contrast, Clothing and Footwear decreased by -2.1%, Transport group -1.2% while there no change in Communication.

In terms of contributions, Recreation group contributed 0.3 percentage points, Food and Furnishings contributed 0.2 percentage points each, Education, Restaurant& Hotels and Miscellaneous 0.1 percentage points each. In contrast, Transport contributed -0.2 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 November 2019 Saudi Arabia contributed 0.56 percentage points, Kuwait contributed 0.22 percentage points, Bahrain 0.07 percentage points. In contrast UAE contributed -0.03 percentage points, and Oman
 -0.01 percentage points while Qatar did not record any contribution this month.

GCC overall consumer price have increased by 0.1% in November 2019 compared with the previous month. The most significant price increases during November 2019 were in Transport and Restaurant & Hotels 0.2% each, Food, Tobacco, Clothing and Footwear, Furnishings, Health, Communication and Recreation 0.1% each. In contrast, Miscellaneous have decreased by -0.1%, while Education group did not record any changes this month.

 

	Table 1. Aggregate GCC inflation
			Index points, 2007=100				Change, Percent
Main Groups		Weights Per cent	November 2018	October 2019	November 2019		November 2019/             October 2019	November 2019/              November 2018
Food and beverage		24.0%	150.3	151.1	151.2		0.1	0.6
Tobacco		0.7%	288.6	296.6	296.9		0.1	2.8
Clothing and footwear		7.5%	110.7	108.3	108.4		0.1	-2.1
Furnishings, household equipment		10.5%	134.7	137.1	137.3		0.1	1.9
Health		2.7%	120.1	121.6	121.7		0.1	1.3
Transport		16.8%	136.4	134.5	134.8		0.2	-1.2
Communication		9.5%	94.4	94.3	94.4		0.1	0.0
Recreation and culture		5.2%	112.4	121.3	121.4		0.1	8.0
Education		7.4%	156.4	158.6	158.6		0.0	1.4
Restaurants and hotels		7.5%	151.0	152.4	152.7		0.2	1.1
Miscellaneous		8.3%	135.5	138.1	137.9		-0.1	1.8
All Groups Excluding Housing		100.0	135.5	136.5	136.6		0.1	0.8

GCC CONSUMER PRICE CHANGE, November 2019

 

 

KEY POINTS: November 2018 to November 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 0.8% Over the 12 months to November 2019.
• The most significant price increases over the twelve months were for Recreation 8.0%, Tobacco8%, Furnishings 1.9%, Miscellaneous 1.8%, Education 1.4%, Health 1.3%, Restaurant & Hotels 1.1% and Food 0.6%. In contrast, Clothing and Footwear decreased by -2.1%, Transport group -1.2% while there no change in Communication.

 

 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.
  • Food and Furnishings contributed 0.2 percentage points each.
  • Education and Restaurant & Hotels and Miscellaneous contributed 0.1 percentage points each.
  • Transport group contributed -0.2 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 56, 0.22 percentage points respectively.
  • Bahrain contributed07 percentage points.
  • UAE contributed -0.03 percentage points and Oman contributed -0.01 percentage points while Qatar did not record any contribution this month.

KEY POINTS: October 2019 to November 2019

THE GCC ALL GROUPS EXCLUDING HOUSING

• GCC consumer price index increased by 0.1% in November 2019 compared with the previous month.

OVERVIEW OF CPI MOVEMENTS IN OCTOBER 2019

• The most significant price increases during November 2019 were in Transport and Restaurant & Hotels 0.2% each, Food, Tobacco, Clothing and Footwear, Furnishings, Health, Communication and Recreation 0.1% each. In contrast, Miscellaneous have decreased by -0.1%, while Education group 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.