Global Macro Service > Research Briefings > MENA

The GCC’s inflation risk is low, despite surging food costs

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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