Is it becoming more expensive to live in GCC?

10 May 2018
POSTED BY Y Magazine

Prices for consumer goods and services (excluding housing) in the Gulf Cooperation Council countries rose by 4.2 per cent in March 2018, compared to the same period last year, according to figures released by GCC-Stat, the Statistical Center for the Cooperation Council of the Arab Countries of the Gulf.

The biggest increases were for tobacco 54.9 per cent, transport 7.6 per cent, restaurant and hotels by 6.2 per cent, food 4.4 per cent, education 2.8 per cent, health 2.6 per cent, miscellaneous 2.3 per cent, recreation 2.2 per cent, furnishings 1.7 per cent, and communication 1.5 per cent.

On the other hand, clothing and footwear fell by -2.0%.

In terms of contributions to the 4.2 percent annual increase, transport contributed 1.3 percentage points, food 1.2 percentage points, tobacco and restaurant and hotels 0.5 percentage points each.

Over the 12 months to March 2018, the country contributions to overall GCC consumer price change were Saudi Arabia 2.0 percentage points, UAE 1.9 percentage points, Bahrain, Qatar and Kuwait contributed 0.1 percentage points each, and Oman 0.0 percentage points.

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