Global Macro Service > Research Briefings > MENA
Gulf Cooperation Council (GCC) economies have seen some of the largest food price increases among emerging markets over the past year. But it isn’t a repeat of 2007-2008 or even 2011-2012. Restrained public spending and weak demand signal limited inflation risk, including in Saudi Arabia. After its temporary VAT-hike-induced surge, inflation there will slow to below 2% in H2.
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