According to an analysis by local Arabic daily Al-Anbaa on inflation rates as per the latest statistics issued by the Kuwait Central Statistical Bureau’s consumer price index, rapidly increasing rent has been leading to dearer services and consumer goods for both citizens and expatriates living in Kuwait since 2012, affecting their wages and income.
The study showed that most tenants in investment buildings had been expats until recently, but many young Kuwaiti couples started renting apartments while waiting for their promised government housing because they would have to wait long in view of the accumulating number of applicants - 108,000 so far.
The study also showed that despite the fact that inflation rates were still acceptable, some expenses like housing has been devouring consumers’ income by at least 28.9 percent. The study also showed that food and beverage expenses came second with 18.4 percent, with an inflation rate of 2.5 percent over the past three years.
The study also showed that housing related services like furniture and maintenance came third in terms of price increases at 11.3 percent.
More importantly, the study showed that education and tuition fees, which are very integral for everyone, consumed large portions of families’ incomes with an inflation rate of 4.4 percent.