Inflation rate in the GCC by country 2020

Published by
Amna Puri-Mirza,
Sep 29, 2023
As of 2020, the inflation rate of Saudi Arabia was about 3.4 percent. In comparison, the inflation rate of Qatar was negative 2.7 percent for the same year.

Influence of inflation on consumers

Inflation is predicted to increase rapidly worldwide. This has also brought changes in the purchasing behavior of consumers. Consumers have changed their purchasing habits toward purchasing apparel, electronics, and beauty products with the increase in the prices of goods. A survey revealed the rising costs of groceries had impacted consumers’ online shopping behavior the most.

Inflation rate in the MENA region

Among the Middle East countries, the year-on-year inflation rate was projected to grow from negative 0.9 percent to 3.8 percent for Oman by 2021. It was also forecasted that the average inflation rate of Qatar would increase significantly over the years.

Inflation rate in the Gulf Cooperation Council in 2020, by country

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Release date

July 2021

Region

Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, MENA

Survey time period

2020

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