Kuwait inflation rate up 2.54 pct in Aug on annual basis Rate hits record high 0.08% on monthly basis

KUWAIT CITY, Sept 25, (KUNA): The inflation rate in Kuwait rose by 2.54 percent in August compared to the corresponding month in 2012, a Central Statistical Bureau (CSB) report revealed on Wednesday. On the monthly basis the inflation rate hit a record high of 0.08 percent due to the increase in the consumer prices of some main categories of commodities and services, according to the monthly report received by KUNA. The prices of three main categories, affecting the consumer index, went up in August, while those of six other categories went down. The prices of three other categories remained stable. The CSB classifies the commodities and services into 12 categories as per the classification adopted by the UN Statistics Division.

The record prices of the first main category — foods and beverages, soared in August by 5.22 percent and 0.49 percent on annual and monthly bases respectively. The prices of three sub-categories in this group hit a record monthly high compared to July; these are meat, chickens and fish — 1.19 percent; oils and grease — 0.22 percent; and other foodstuffs — 0.75 percent. The categories whose prices went down are the fruits — down by 0.14 percent, vegetables — 0.61 percent, bread and cereals — 1.24 percent, dairy products and eggs — 0.07 percent, beverages 0.52 percent, and sugar and sugary foods — 0.53 percent. The prices of the second main category — cigarettes and tobacco, went up in August by 7.87 percent and 0.15 percent on annual and monthly bases respectively.

Meanwhile, the prices of clothes and footwear — the third main category, went down by1.25 percent and 0.24 percent on annual and monthly bases respectively. The fourth category — bedclothes and maintenance tools, saw its prices going up by 2.26 percent on annual basis while the prices of the fifth category went up by 0.48 percent on an annual basis and down by 0.55 percent on a monthly basis. The sixth category — transportation, saw a hike of 0.91 percent on an annual basis and decline by 0.33 percent on a monthly basis whereas the seventh category — communications, went up by 0.20 on an annual basis.

The inflation rate in the eighth category — recreational and cultural services, saw an increase of 1.34 percent on an annual basis and a decline of 0.31 percent on a monthly basis. The inflation rate in ninth category — education, went up by 0.16 percent on an annual basis and remained unchanged on a monthly basis. The inflation rate in tenth category — restaurants and hotels, soared by 0. 94 percent on an annual basis, the report added.




 

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