Kuwait Times, Saturday, Dec 04, 2021 | Rabi Al-Aakhir 29, 1443
Kuwait’s inflation rises 3.17 percent
Kuwait:
The consumer prices on an annual basis grew by 3.17 percent in July, according
to Kuwait Central Statistical Bureau. In a statement to KUNA yesterday, the
bureau indicated that inflation rate in Kuwait increased by 0.25 percent on a
monthly basis due to rise of prices of some main groups that influence movement
of the key indices.
It added that the consumer price index (CPI) for the food and beverage group
rose by 10 percent last July in comparison to the same period last year, whereas
the cigarette and tobacco group remained the same at 135 point on an annual
basis. The clothing group rose by 6.52 percent and housing services increased
slightly by 0.17 percent, while furnishings climbed to 3.7 percent.
As for medical group, it rose by 2.27 percent and transportation surged by 5.4
percent. The communications group increased by 4.6 percent, and recreation and
culture surged by 8.25 percent, whereas education group declined by 15.46
percent. Restaurants and hotels increased on yearly basis by 0.9 percent.
The Consumer Price Index (CPI) is a measure of the average change overtime in
the prices paid by urban consumers for a market basket of consumer goods and
services, and is used for identifying periods of inflation and deflation.