Kuwait’s inflation accelerates with 2.44% year-on-year rise in October
The rise in annual inflation was driven by higher prices in key sectors such as clothing, food, education, and apparel, excluding transportation.
• Food and beverage prices in Kuwait rose 4.98% in October year-on-year, while cigarette and tobacco prices edged up 0.15%.
According to data from the Central Bureau of Statistics, consumer price indices ‘inflation’ rose by 2.44% in October compared to the same month last year, while monthly inflation increased by 0.13% from September.
The rise in annual inflation was driven by higher prices in key sectors such as clothing, food, education, and apparel, excluding transportation, as reported by Al Anbanewspaper.
The reports said that the index for the first group, food and beverages, rose by 4.98% in October compared to the same month in 2023, while the price index for the second group, cigarettes and tobacco, recorded a slight year-on-year increase of 0.15%.
The index for the third group, clothing, increased by 5.56%, and the prices for the fourth group, housing services, rose by 0.57%. Additionally, the inflation rate for the fifth group, home furniture, grew by 4.06%.
The price index for the sixth group, health, increased by 4.29%, whereas prices in the seventh group, transport, saw a decline of 1.89% in October compared to the same month in 2023.
Statistics revealed that the prices for the eighth group, telecommunications, rose by 0.72% year-on-year, while the inflation rate for the ninth group, entertainment and culture, grew by 2.34%. Similarly, prices for the tenth group, education, increased by 0.79%.
The statistics highlighted that prices for the eleventh group, restaurants and hotels, rose by 2.05% year-on-year last October, and the twelfth group, miscellaneous goods and services, recorded an increase of 5.62%.
Finally, reports said that the inflation rate in Kuwait, excluding the food and beverages group, increased by 1.87% year-on-year in October.
