Consumer price indexes see 3.28 pc rise during January

According to data released by the Central Administration of Statistics Tuesday, consumer price indexes (inflation) in Kuwait saw a 3.28 percent increase during January on an annual basis.

The statistics revealed that the inflation rate in Kuwait experienced a 0.15 percent rise on a monthly basis compared to December of the previous year, reports Al-Rai daily.

The rise in inflation on an annual basis was primarily attributed to increases in prices across key groups impacting overall index movement, particularly clothing, food, education, and housing services.

Specifically, the index for the food and beverages group surged by 4.80 percent compared to January 2023, while the index for cigarettes and tobacco saw a slight uptick of 0.22 percent annually. The clothing group’s index witnessed a notable increase of 6.43 percent, with housing services following closely at 2.35 percent. Additionally, home furnishings experienced a 3.92 percent inflation rate.

The Health group’s index rose by 2.74 percent in January, while transportation saw a 2.36 percent increase compared to the same month in 2023, albeit witnessing a 0.28 percent decrease on a monthly basis from December.

Communication prices saw a 2.63 percent annual increase, and entertainment and culture witnessed a 2.71 percent rise; education prices increased by 0.88 percent.

Restaurants and hotels recorded a 2.39 percent annual inflation rate in January, while miscellaneous goods and services saw a 3.68 percent increase.

Excluding food and beverages, the consumer price index (inflation) for December rose by 3.79 percent annually.