According to recent data from the Central Administration of Statistics and reported by Al-Rai daily, Kuwait’s consumer price indexes (inflation) saw a 3.28 percent increase in January compared to the same period last year. The statistics also revealed a monthly inflation rise of 0.15 percent compared to December of the previous year.
لمزيد من المعلومات يرجى زيارة الموقع الإلكتروني https://t.co/TUwGtetuoX نشرة الأرقام القياسية لأسعار المستهلك يناير 2024 ويمكن الدخول على النشرة مباشرة عن طريق رمز الاستجابة السريع #إحصاء #الإدارة_المركزية_للإحصاء #الكويت pic.twitter.com/kkuq9ApwCU
— الإدارة المركزية للإحصاء (@CSBkw) February 20, 2024
The overall inflationary trend was primarily influenced by rising prices in various key consumer groups, including clothing, food, education, and housing services. Specifically, the food and beverages group index experienced a significant surge of 4.80 percent compared to January 2023, while the index for cigarettes and tobacco showed a slight uptick of 0.22 percent annually.
Among the major contributors to inflation, the clothing group’s index notably increased by 6.43 percent, followed closely by a 2.35 percent rise in housing services and a 3.92 percent inflation rate in home furnishings. The health group index rose by 2.74 percent in January, while transportation experienced a 2.36 percent increase compared to the same month in 2023, despite a monthly decrease of 0.28 percent from December.
Read more: Will the new Emir of Kuwait Sheikh Mishal launch his reign with a wave of reforms?
Communication prices witnessed an annual increase of 2.63 percent, and entertainment and culture saw a rise of 2.71 percent. Education prices increased by 0.88 percent, while restaurants and hotels recorded a 2.39 percent annual inflation rate in January. Miscellaneous goods and services saw a significant increase of 3.68 percent.
Excluding food and beverages, the consumer price index (inflation) for December showed an annual rise of 3.79 percent.
For more news on economy, click here.
