GCC inflation rises 1.7 per cent

The data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicates that the overall inflation rate in the Gulf Cooperation Council (GCC) countries rose by 1.7 per cent at the end of October 2024 compared to the rate recorded during the same month of the previous year, according to consumer price data for the GCC countries.

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The increase in the annual overall inflation rate in the GCC countries is mainly attributed to the increase in the prices of the housing group by 6.4 per cent, the goods and services group by 3 per cent, the restaurants and hotels group by 1.7 per cent, the culture and entertainment group by 1.4 per cent, the education group by 1.2 per cent, and the food and beverages group by 0.8 per cent.