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FINANCIAL NEWS
Continuous inflation in GCC for the rest of the year
25 Aug 2013
(MENAFN) Economists expect a continuous raise in inflation in the GCC over the following months resulting from the increasing costs of housing, according to The National.
Economists believe that housing will be the main reason behind the structural inflation, though food prices were the main cause in the previous period.
Jean-Paul Pigat, economist at Emirates NBD, reported: “With the region’s residential real estate market recovery expected to continue apace, higher housing costs will likely be a key factor pushing headline CPI [consumer price index numbers] up through the remainder of 2013.”
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