Muscat: GCC general inflation rose at the end of October 2024 to 1.7 percent compared with the ratio in the same month in 2023, GCC Statistical Center (GCCSC) consumer price data showed on Saturday.
According to Kuwait News Agency, the GCC annual inflation rate was mainly influenced by a rise in housing group prices by 6.4 percent and an increase in the services and commodities group by three percent. The report also indicated an increase in the restaurant and hotel group by 1.7 percent, culture and entertainment by 1.4 percent, education by 1.2 percent, and beverage and food by 0.08 percent.
However, there were declines in other sectors. Transport prices dropped by 3.6 percent, while household furniture and equipment, tobacco, communication, and clothes and shoes saw decreases of 1.9, 1.1, 0.9, and 0.4 percent, respectively.
The report further highlighted global inflation comparisons, noting that the inflation rate of the European Union at the end of October 2024 was 2.3 percent. Other countries reported rates with Brazil at 4.8 percent, India at 4.4 percent, the UK at 3.2 percent, the US at 2.6 percent, Japan at 2.3 percent, Germany at 2.0 percent, South Korea at 1.3 percent, France at 1.2 percent, Italy at 0.09 percent, and China at 0.03 percent.
The GCCSC, headquartered in Oman, is the accredited official body responsible for data and statistics related to the GCC states.