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FINANCIAL NEWS
GCC inflation rate ranges 1.02-3.11 percent
30 Dec 2014
(MENAFN) According to a report by GCC-STAT, the Inflation rates across the GCC ranged between 1.02 percent and 3.11 in October of this year compared to October 2013 with the UAE recording the highest inflation at 3.11 percent, Emirates 24/7 reported.
The UAE was followed by both Kuwait and Qatar, which inflation was at 3.0 percent, 2.6 percent in Saudi Arabia, 2.5 percent in Bahrain, while Oman registered the lowest inflation rates of 1.02 percent.
In comparison with September 2014, the inflation rates in October showed a slight increase of 0.2 percent in Saudi Arabia, 0.11 percent in the UAE, 0.1 percent in both Oman and Qatar, while prices in Bahrain and Kuwait remained stable.
While in comparison with October 2013, the food and beverages prices registered an increase in most GCC member states, where prices for this group increased by 3.72 percent in the UAE, 3.5 percent in Saudi Arabia, 2.9 percent in Bahrain, 2.58 percent in Kuwait, and 1.04 percent in Oman, while Qatar registered the only decrease in food and beverages prices by 0.6 percent.
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