KAMCO Invest's GCC Inflation Update Report for August 2023 showed that inflation rates are still much lower compared to their counterparts from other countries in the Middle East and around the world.
Global inflation gradually slowed in 2023 compared to 2022, mainly due to lower food prices, lower energy prices, and shrinking global demand on the back of monetary tightening policies. According to the International Monetary Fund's recent World Economic Outlook update, global aggregate inflation is expected to decline from 8.7 percent in 2022 to 6.8 percent in 2023 and 5.2 percent in 2024.
Source (Al Khaleej Emirati Newspaper, Edited)
