Sigma Capital

23-12-2024

Kuwait inflation up by 2.92%

Source: MIST

Kuwait's consumer price index (inflation), on an annual basis, grew by 2.36 percent in November 2023, according to the Kuwait Central Statistical Bureau (KCSB). In a statement to KUNA on Sunday, KCSB said that the inflation rate rose by 0.15 percent in November compared to October 2023. The annual inflation increase was attributed to higher prices in key sectors, including clothing, food, education, and furnishings, while transportation costs saw a decline.

The report also reported a 4.66 percent in the "food and beverages" group in November compared to the same month in 2023, the "Cigarette and Tobacco" group saw marginal annual increase of 0.15 percent.

Prices of the "clothing" group rose by 5.54 percent, while the "Housing Services" group saw 0.57 percent increase, as well as "Household Furnishings" group recorded a 4.05 percent rise. The "Health" group saw a 4.20 percent increase, while the "Transportation" showed 1.89 percent decrease.

Meanwhile, the "Communication" group recorded a 0.88 percent annual increase, and "Recreation and Culture" group rose by 2.42 percent. The "Education" group saw a 0.79 percent rise, with the "Restaurants and Hotels" group recording a 2.05 percent increase.

The "Miscellaneous Goods and Services" group recorded a 5.54 percent annual rise. Excluding the "Food and Beverages" group, Kuwait's inflation rate rose by 1.87 percent in November 2023 on a yearly basis.