GCC: Modest inflation supportive of non-oil growth

Inflation is modest across the GCC, though housing pressures are keeping price growth higher in Saudi Arabia and Dubai than in the rest of the bloc.
Other key determinants of inflation include food prices and transport, both of which are moderating as shipping disruptions ease and oil prices fall.
The softer inflationary environment will be supportive of private consumption and non-oil growth throughout the bloc this year.

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Daniel Richards