GCC inflation stays muted as Middle East conflict raises global price fears

RIYADH: Inflation across the Gulf Cooperation Council remained subdued in June and July despite oil and gas price fluctuations linked to the ongoing US-Iran conflict, according to Kamco Invest. In its latest report, the Kuwait-based investment firm said the geopolitical situation in the Middle East is expected to sustain upward pressure on global inflation in the short term, while intermittent hostilities between the US and Iran are poised to lift oil prices, dampen global economic growth and drive up interest rates.

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