Inflation in the Gulf Cooperation Council (GCC) countries recorded a significant decline during 2024, outperforming most other regions that are still suffering from high prices despite the global downward trend. According to World Bank estimates, the inflation rate in the Gulf countries came at 2.1 percent in 2024, against the backdrop of government subsidy policies, capping fuel prices, and pegging currencies to the US dollar. Global inflation has continued its downward trend since peaking in 2022 and is expected to continue in 2025, mainly driven by lower energy prices and stable supply chains.
Source (Al-Khaleej Emirati Newspaper, Edited)
