Saudi Gazette - Saudi inflation highest in GCC: Report

Saudi Gazette - Saudi inflation highest in GCC: Report:

"Saudi Arabia recorded the highest rate of inflation with 3.7 percent, followed by Bahrain 3.6 percent, Qatar 3.1 percent, Kuwait 2.87 percent, Oman at 1.5 percent compared to 2.9 percent, United Arab Emirates at 1.26 percent, compared with the same month last year, Oman’s the National Centre for Statistics and Information (NCSI) said.

The consumer monthly price indices in the GCC countries in July recorded its highest level in the Sultanate by 1.2 percent, followed by Bahrain 0.8 percent, Saudi 0.4 percent and Kuwait 0.16 percent. The index declined in the UAE by 0.04 percent and showed no change in Qatar.

The projections issued in a report of the World Economic Outlook Update in July indicate that the inflation in 2013 would reach about 6 percent in the economies of the emerging and developing markets, while it will reach 1.5 percent in the developed economies. For July, the Inflation rate in the Sultanate’s most important trading partners was 2.8 percent in the United Kingdom, 2.6 percent in China, 2 percent in the United States."

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