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FINANCIAL NEWS
GCC inflation stable at 3 percent
14 Aug 2013
(MENAFN) The Gulf Cooperation Council (GCC) is projected to have its inflation stable at three percent, Times of Oman reported.
This stability is due to a high increase in housing costs counteracted by low food prices increase.
Inflation rate globally came at an average of 3.8 percent and the average in the Middle East and North Africa region (Mena) is 9.3 percent.
The lowest inflation level within the GCC is in the UAE. The average rental inflation in the country is 1.3 percent up to date, and this is the result of stabilising rents in Abu Dhabi and rising rents in other parts of the country.
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