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Increase in prices of imported and local goods

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KUWAIT CITY, June 9: The Central Statistical Bureau says the general index of the wholesale price in Kuwait rose by 2.3 percent in 2021 to reach the level of 141.7 in December 2021, from 138.6 in December 2020. The prices of imported goods increased by 3.2 percent, and the prices of local goods increased by 0.6  percent, reports Al-Anba daily.

The report, which focused on the price movement between December 2020 and December 2021, showed an increase in the prices of materials included in the agricultural and fishing group by 1.4 percent, as a result of increase in the prices of crop cultivation and animal production activities by one percent, and increase in the prices of imported goods by 0.8 percent, and in the prices of domestic goods by 3.1 percent.

The index of the “mines and quarries” group increased by 8.9 percent as a result of an increase in the prices of crushed sand and stones by 9.5 percent, of imported goods by 7 percent, and of local goods by 11.8 percent.

The index of the “manufacturing industries” group increased by 2.4 percent during the year. This was because of an increase in the prices of manufacturing food products by 0.1 percent,  of producing beverages by 1.1 percent, of making clothes by 4.2 percent, of producing chemicals and chemical products by 0.8 percent, of making base metals by 17.5 percent, of imported goods by 3.4 percent and of local commodity by 0.5 percent.

By classifying materials according to the stage of production, it was noted that the prices of raw materials, intermediate materials and final materials increased by 1.9 percent, 7.2 percent, and 0.9 percent respectively.

In terms of end use, it was noted that the prices of consumables, capital materials, and materials prices increased by 0.9 percent, 0.8 percent, and 5.2 percent respectively.

By comparing the price movement during December 2021 compared to November 2021, the general wholesale price index (base year 2007) increased in December 2021 by 0.3 percent. The price index of imported goods increased by 0.4 percent, and the price index of locally produced goods increased by 0.1 percent.

The index of the main group “agricultural and fishing” increased by one percent, as a result of an increase in the prices related to cultivation of crops and animal production by 1.1 percent.

The index of the main group “mines and quarries” increased by 1.6 percent as a result of an increase in the prices of crushed sand and stones by 1.6 percent.

The index of the main “manufacturing” group increased by 0.3 percent as a result of an increase in the prices related to manufacturing food products by 0.1 percent, and in the prices of making clothing by 1.8 percent, of manufacturing chemicals and chemical products by 0.4 percent, of making base metals by 1.6 percent, and of fabricated metal products by 0.6 percent.

The index of the main group “imported materials” increased by 0.4 percent as a result of an increase in the prices of agriculture, forestry and fishing by 1.0 percent, of quarrying by 2.7 percent, and of the manufacturing industry by 0.4 percent.

The index of the main group “produced materials” increased by 0.4 percent, with an increase in the price index of locally produced goods by 0.1 percent, as a result of an increase in the prices of agriculture, forestry and fishing by 0.9 percent.

Also, the prices of the manufacturing industry increased by 0.1 percent, while the prices of quarrying remained stable at 167.1.

It was noted from the classification of materials according to the “production stage” that the prices of raw materials, intermediate materials and final materials increased by 1.4 percent, 0.8 percent and 0.1 percent respectively.

Through the classification of materials according to “end use”, it was noted that there is an increase in the prices of consumables, capital materials, and production materials by 0.2 percent, 0.1 percent and 0.5 percent respectively.

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