The latest available data issued by the Global Product Price Platform for March 2022, flour prices in Kuwait are the second highest after Saudi Arabia at the Gulf level, with one kilo costing $2.28, and shows Kuwait is the fifth in the world in terms of raising flour prices.
As for rice, a local Arabic daily said, Kuwait ranks fourth in the Gulf and 53rd in the world, with the price of one kilo costing 1.3 dollars. Kuwait also ranks fourth in the Gulf region in sugar prices, with the price of one kilo at $1.44.
As for the meat prices, Kuwait has the second highest price after Qatar, with the price of one kilo reaching $11 and ranks 41st in the world out of 92 countries.
On the other hand, the price of one kilo of chicken in Kuwait is $3.92, and occupies fifth place before Oman (the penultimate) and the 50th place in the world.
It should be noted that Kuwait and Qatar are the only two Gulf countries that do not impose the value-added tax, yet the prices of basic food commodities are considered high in Kuwait compared to other Gulf countries.
Moody’s Investors Service said in a report published this month that Kuwait recorded the highest food price inflation rate among the Gulf Cooperation Council countries from January to September 2021, reaching 10.3 percent. The service added that Kuwait is among the countries exposed to the risks of rising food prices due to the heavy dependence on food imports.
Moody’s also drew the attention to the report of the United Nations Food and Agriculture Organization (FAO) issued on March 4, on its latest data for the food price index, in which it indicated a record rise in global food prices in February.