1997 News Story

GCC states have low rate of inflation

The Federation of the Gulf Cooperation Council (GCC) Chambers of Commerce and Industry has announced that the rate of inflation in GCC member states did not exceed 4.2 percent in 1995, as compared with an average 6.7 percent globally and 17.5 percent in developing countries.  Although higher than the rate of 0.7 percent maintained from 1985 to 1990, as compared to 12.6 percent in other countries and 58.2 percent in the developing world, the rate is still extremely low in comparison with international standards.