The prices of consumer goods and services in the GCC countries increased over the 12 months to April 2020 by 0.8%

                

Issue date: 11 June 2020

 

 

The prices of consumer goods and services (excluding housing)[1] in the Gulf Cooperation Council countries increased Over the 12 months to April 2020, 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 Food 5.0%, Tobacco 3.6%, Clothing and Footwear 2.9%, Miscellaneous 1.2%, Education 1.1%, Furnishings 0.2%. In contrast, Recreation declined by
 -6.0%, Transport -3.6% Restaurant & Hotels -0.7%, and Communication -0.2%, while there is no change in Health group in this month.

In terms of contributions, Food contributed 1.3 percentage points. Clothing and Footwear 0.2 percentage points, Tobacco, Education and Miscellaneous contributed 0.1 percentage points each. In contrast, Transport group contributed -0.6 percentage points, Recreation -0.3 percentage points and Restaurant & Hotels -0.1 percentage points, while the rest of the groups did not record any contribution this month.

Over the 12 months to April 2020, the contributions to overall GCC consumer price change were almost exclusively from Saudi Arabia and Kuwait, with 1.1 and 0.23 percentage points respectively. In contrast, UAE, Qatar, Oman and Bahrain contributed -0.18, -0.11, -0.09 and -0.06 percentage points respectively.

GCC overall consumer price have decreased slightly in April 2020 compared with the previous month by -0.1%. The most significant price decreases during April 2020 were in Transport group by -3.0%, Restaurant & Hotels -0.8%, Furnishings -0.1%. In contrast, Recreation prices increased by 1.6%, Food 1.2%, Clothing 0.9%, Miscellaneous 0.5% and Tobacco 0.1%, while there is no change of prices in other groups compared with the previous month.

 

	Table 1. Aggregate GCC inflation
			Index points, 2007=100				Change, Percent
Main Groups		Weights Per cent	April 2019	March 2020	April 2020		April 2020/        March 2020	April 2020/         April 2019
Food and beverage		24.0%	149.2	154.8	156.6		1.2	5.0
Tobacco		0.7%	296.2	306.4	306.8		0.1	3.6
Clothing and footwear		7.5%	106.9	108.9	110.0		0.9	2.9
Furnishings, household equipment		10.5%	135.8	136.1	136.0		-0.1	0.2
Health		2.7%	120.4	120.4	120.4		0.0	0.0
Transport		16.8%	133.7	132.9	128.9		-3.0	-3.6
Communication		9.5%	94.2	94.0	94.0		0.0	-0.2
Recreation and culture		5.2%	114.6	106.1	107.8		1.6	-6.0
Education		7.4%	157.2	159.0	158.9		0.0	1.1
Restaurants and hotels		7.5%	153.9	154.1	152.8		-0.8	-0.7
Miscellaneous		8.3%	135.6	136.5	137.2		0.5	1.2
All Groups Excluding Housing		100.0	135.1	136.3	136.2		-0.1	0.8

GCC CONSUMER PRICE CHANGE, April 2020

 

 

 

KEY POINTS: April 2019 to April 2020

 THE GCC ALL GROUPS EXCLUDING HOUSING

• The prices of consumer goods and services (excluding housing) in the Gulf Cooperation Council countries increased by 0.8% over the 12 months to April 2020.
• The most significant price rises over the twelve months were for Food 5.0%, Tobacco 3.6%, Clothing and Footwear 2.9%, Miscellaneous 1.2%, Education 1.1%, Furnishings 0.2%. In contrast, Recreation declined by -6.0%, Transport -3.6% Restaurant & Hotels
  -0.7%, and Communication -0.2%, while there is no change in Health group in this month.

 

 CONTRIBUTIONS TO PRICE CHANGE OVER THE 12 MONTHS

• The most significant contributors to the GCC Inflation(excluding housing) were:
  • Food contributed 1.3 percentage points.
  • Clothing and Footwear 0.2 percentage points.
  • Tobacco, Education and Miscellaneous contributed 0.1 percentage points each.
  • In contrast, Transport group contributed -0.6 percentage points, Recreation -0.3 percentage points and Restaurant & Hotels -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, with 1 and 0.23 percentage points respectively.
  • In contrast, UAE, Qatar, Oman and Bahrain contributed -0.18, -0.11, -0.09 and
    -0.06 percentage points respectively.

KEY POINTS: March 2020 to April 2020

THE GCC ALL GROUPS EXCLUDING HOUSING

• GCC consumer price have decreased slightly by -0.1% in April 2020 compared with the previous month.

OVERVIEW OF CPI MOVEMENTS IN April 2020

• The most significant price decrease during April 2020 compared with the previous month were in Transport group by -3.0%, Restaurant & Hotels -0.8%, Furnishings -0.1%. In contrast, Recreation prices increased by 1.6%, Food 1.2%, Clothing 0.9%, Miscellaneous 0.5% and Tobacco 0.1%, while there is no change of prices in other groups compared with the previous 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.