GCC-wide inflation rose by 1.7 per cent at the end of October 2024
inflation rate
Latest in inflation rate
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
Saudi inflation falls to 1.5% despite increase in rent prices
Saudi Arabia sees inflation rate fall despite increases in rent, schooling and some food groups
consumer price index
Saudi Arabia’s inflation falls 1.7% in September
Saudi Arabia’s CPI remained stable in September, continuing a trend of decreasing inflation, due to the kingdom’s prompt economic measures have contributed to this economic resilience, while specific sectors experienced varying price changes
inflation
US July consumer inflation lowest in last 2 years
The overall inflation, however, rose in July after 12 straight months of declines, fuelled by costlier housing
consumer price index
US inflation dips to 2-year low
The data by the country’s Labour Department showed the Consumer Price Index grew at an annual rate of 3 percent – smallest since March 2021
Central Bank of Egypt
Egypt central bank holds interest rates unchanged
The bank cited signs of decline in commodity prices and a recovery in economic growth for its decision
Central Bank of Egypt
Central Bank of Egypt raises key interest rates by 2% for the first time in 2023
This is the first increase this year, as the CBE maintained its unchanged interest rates during its February meeting
Bureau of Labor Statistics
US inflation falls to year’s lowest level in December at 6.5 percent
The fall in inflation has further fuelled speculation about easing of interest rate hike by the Fed
Central Bank
Kuwait’s central bank announces 0.5 percent hike in discount rates to 3.5%
Indian central bank also announced a 35 basis points hike in lending rates to 6.25 percent on Wednesday
energy prices
Saudi Arabia inflation slows down to 3% in October
The drop in inflation rate was seen for the first time since May 2021, data released by the General Authority for Statistics (GASTAT) showed on Tuesday
high inflation
IKEA succumbs to inflation, raises prices by 80 percent
The furniture giant, after years of stable and affordable prices, have raised prices amid soaring inflation
Central Bank
Inflation, Central Banks, and why it matters
Inflation is the key reason behind a dismal year for investments. Despite regional nuances, the issue is truly global and may not find a quick solution. Volatility should prevail for the coming months
Central Bank
Central banks in the Gulf follow US Fed move to raise interest rates
Most Gulf central banks follow the US Fed because their currencies are pegged to the US dollar
consumer price index
Saudi Arabia’s inflation peaks 3 percent in August, driven by transport, food
Both sectors, which are the main drivers of inflation, rose 4 percent each, the data showed