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|10 January, 2019

GCC's inflation levels up in November

The consumer price index (CPI) in the GCC, excluding the residential prices, grew 4.3% year-on-year during 2018.

Image used for illustrative purpose. People walk at Murshid Bazar, the Iranian market in the old part of Dubai, United Arab Emirates November 2, 2018.

Image used for illustrative purpose. People walk at Murshid Bazar, the Iranian market in the old part of Dubai, United Arab Emirates November 2, 2018.

REUTERS/Tuqa Khalid

Mubasher: The consumer price index (CPI) in the GCC, excluding the residential prices, grew 4.3% year-on-year during 2018.

Inflation in the GCC, excluding the residences segment, recorded 135.2 points in November, compared to 129.6 in the comparative month in 2017, according to a report released by the GCC-STAT.

Month-on-month, the GCC’s CPI lost 0.1% in Nonmember, the report found.

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Saudi Arabian contribution to the GCC’s CPI registered 5%, while the UAE’s share of the inflation in the region reached 6%.

Top segments which underwent price increases were tobacco (50%), transportation (9.1%), restaurants and hotels (6.7%), and foods beverages, the GCC-STAT’s data showed.

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