Half of Middle East consumers surveyed believe newly introduced global tariffs are the leading driver of grocery inflation
inflation
Latest in inflation
economic outlook
Erratic U.S. policy is undermining its global economic edge
Heavy reliance on executive orders, a weak fiscal position, and inflation uncertainty are dampening U.S. growth prospects, raising recession risks and opening the door for Europe and Asia to reclaim economic momentum
GCC
GCC inflation up 1.7% as housing costs increase and transport more affordable
GCC-wide inflation rose by 1.7 per cent at the end of October 2024
General Authority for Statistics (GASTAT)
Saudi Arabia’s inflation records marginal rise to 2% in January 2025
The January inflation is driven mainly by an increase in the prices of housing, water, electricity, gas and fuels section
inflation
F&B and clothing price increase pushes Kuwait’s inflation up by 2.36%
Among major expense heads, transportation costs decrease compared to November last year
inflation
US Federal Reserve cuts interest rates for third time, dials back 2025 outlook
Incoming president Trump’s policy agenda on tariffs and taxes looms over the Fed’s outlook, though Fed chair Powell called it “premature” to assess any impacts
economic outlook
JPMorgan Private Bank sees US rates to plunge to 3.5% by 2026 in growth push
The bank identified capital investment as a key megatrend for 2025, driven by artificial intelligence, power infrastructure, and security needs
inflation
US Fed Chair Powell says no need to hurry rate cuts with economy strong
Powell’s remarks prompted traders to pare back expectations for a December rate cut
Egypt
Egypt’s October inflation edges up to 26.5%, below market expectations
Food prices in October were 27.3% higher than a year earlier
Bank of England
Bank of England cuts interest rates to 4.75%
It marks the apex bank’s second reduction of 2024, after it began its easing cycle in August
consumer price index
Saudi annual inflation rate stable at 1.7% despite rising rents and utilities
Prices of housing, water and fuels – up 9.3% – contribute mainly to inflation, while prices of transportation and clothing come down
inflation
US Fed seen delivering 25 bps cut next month after inflation data
The increased speculation comes after a government report showed inflation last month was a bit firmer than expected
inflation
US inflation reaches lowest point since February 2021
Consumer prices rose just 2.4% in September from a year earlier, down from 2.5% in August
India
India’s central bank opts for status quo on interest rate; keep repo rates unchanged at 6.5%
The Reserve Bank of India (RBI) has changed its policy stance to ‘neutral’, opening the door for rate cuts as early as December
economic outlook
US Fed’s bold 50bps cut a signal to get ahead of the curve, cushion the economy against potential shocks: Experts
A section of market participants, however, sees the aggressive easing as a sign of panic, potentially fuelling volatility and uncertainty in financial markets
CBUAE
UAE Central Bank cuts base rate to 4.90% following US Fed cecision
The rate, which applies to the Overnight Deposit Facility (ODF), has been lowered from 5.40 to 4.90 percent