Inflation in the GCC not going away soon
To:
Al-Monitor Pro Members
From:
Dr. Robert Mogielnicki
Senior Resident Scholar, Arab Gulf States Institute in Washington, DC
Date:
Oct. 25, 2022
Bottom Line:
Inflation rates in Gulf Cooperation Council (GCC) countries remain below regional and global levels. Inflation in the GCC is unlikely to dissipate over the short term; however, rising prices are very unlikely to spiral out of control. Much of the inflation story in the GCC concerns food and beverage prices. Fuel prices in the UAE and real estate prices across the region pose some additional challenges for policymakers seeking to mitigate the negative impacts of inflation over the short and medium terms.