Kuwait witnesses 3% annual increase in inflation for July
Kuwait’s consumer price index rose by 0.15% in July, driven by higher prices in key categories impacting the index, particularly clothing, food, education, and housing.
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The index for F&B rose by 5.89% year-over-year in July 2023. The ‘cigarettes and tobacco’ index saw a slight annual increase of 0.15%. ‘Clothing’ prices rise by 5.63%, ‘housing services’ by 0.91%, and ‘home furnishings’ by 3.79%.
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Prices for ‘restaurants and hotels’ jump 2.52%, and ‘various goods and services’ by 4.86%. Excluding F&B, the inflation rate in Kuwait rose by 2.35% year-over-year in July.
The data from the Central Administration of Statistics revealed a three percent annual increase in the consumer price index (inflation) locally for July, according to Al Jarida newspaper.
The statistics agency reported to KUNA that Kuwait’s inflation rate rose by 0.15 percent in July compared to June. The increase in annual inflation was attributed to higher prices in key categories impacting the index, particularly clothing, food, education, and housing.
The index for ‘food and beverages’ rose by 5.89 percent year-over-year in July 2023. The ‘cigarettes and tobacco’ index saw a slight annual increase of 0.15 percent. ‘Clothing’ prices rise by 5.63 percent, ‘housing services’ by 0.91 percent, and ‘home furnishings’ by 3.79 percent.
While the ‘health’ index jumps 4.07 percent, ‘transportation’ prices increased by 0.49 percent. ‘Communications’ prices went up by 2.45 percent, ‘entertainment and culture’ by 2.35 percent, and ‘education’ by 0.96 percent.
Prices for ‘restaurants and hotels’ increased by 2.52 percent, and ‘various goods and services’ by 4.86 percent. Excluding ‘food and beverages,’ the inflation rate in Kuwait rose by 2.35 percent year-over-year in July.
