Kuwait records highest inflation rate in Gulf at 2.4% last October
Data from the Gulf Center for Statistics showed that consumer prices rose 1.7% in October compared to the same period last year, lower than the European Unionaverage of 2.3%.
• The annual rise in inflation in the Gulf is attributed to several common factors, primarily disruptions and slowdowns in food supply chains, rising costs of sea and commercial shipping due to increased security developments in the region, and higher expenses for securing ships.
Kuwait recorded the highest inflation rate in the Gulf last October at 2.4 percent, rising to 2.5 percent by the end of 2024, according to Al Rai newspaper.
Data from the Gulf Center for Statistics showed that consumer prices rose 1.7% in October compared to the same period last year, lower than the European Union(EU) average of 2.3%.
Transport prices dropped by 3.6 percent, furniture and household equipment by 1.9 percent, tobacco by 1.1 percent, telecommunications by 0.9 percent, and clothing and footwear by 0.4 percent, while health sector prices remained unchanged.
The annual rise in Gulf inflation is attributed to several common factors, primarily disruptions and slowdowns in food supply chains, rising costs of sea and commercial shipping due to increased security developments in the region, and higher expenses for securing ships.
Among the Gulf’s key import partners, Brazil recorded the highest inflation rate in October 2024, rising 4.8 percent compared to the same month in 2023, followed by India at 4.4 percent, the United Kingdom at 3.2 percent, the United States at 2.6 percent, Japan at 2.3 percent, Germany at 2 percent, South Korea at 1.3 percent, France at 1.2 percent, and both Italy and China at 0.3 percent.
