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Prices of consumer goods, services in GCC increase

29 Apr 2020 By ONA

The prices of consumer goods and services in the GCC countries increased by 1.3 percent in February, compared to the same period in the previous year. 

According to the figures released today by the GCC Statistical Center (GCC-SC), the transport sector increased by 3.1 per cent, the culture and entertainment sector by 2.7 per cent, food and beverage sector and tobacco sector by 2.4 per cent each, education by 1.2 per cent, restaurants and hotels sector by 0.8 per cent and furniture and household equipment by 0.1 per cent 

On the other hand, the prices of the clothing and shoes decreased by one per cent, miscellaneous goods and services group by 0.9 per cent and telecommunications by 0.5 per cent. The health prices maintained its previous levels. 

With regard to the contributions of the major sectors to the general Gulf inflation last February, the food and beverage contributed 0.6 percentage points, transport by 0.5 percentage points and culture and entertainment, education, and restaurants and hotels by 0.1 percentage points, each. 

In terms of the contribution of the GCC in February, the Kingdom of Saudi Arabia contributed 0.88 percentage points, Kuwait 0.24 percentage points, the United Arab Emirates 0.12 percentage points, Oman and Qatar 0.03 percentage points each, and Bahrain 0.02 percentage points. 

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