The main reason for high inflation rates in the GCC is a rebound in prices in the sectors that were hit the hardest during the Covid-19 crisis. The global energy prices are also exerting significant pressure on the region.
Nokia expects strong 2022
The company said as a supply chain crunch and inflation are set to ease.
Saudi Arabia stares at another round of inflation
The country’s inflation in the last quarter of this year, however, will be relatively stable, SAMA has pointed out. As for the Q3, the Kingdom recorded an average yearly inflation rate of 0.4 percent. This was mainly the result of higher prices of transportation.
IMF: Global inflation nearing peak, stabilizing next year
The full report will be published next Tuesday and updates the estimates the IMF made in July, when it predicted inflation would return to pre-pandemic levels at some point next year. Prices worldwide have crept up throughout this year as economies bounce back from the sharp contraction the Covid-19 pandemic...
