Inflation in Kuwait rose 3.17%

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KUWAIT CITY, Dec 1: The consumer prices on an annual basis grew by 3.17 percent in July, according to the State of Kuwait Central Statistical Bureau. In a statement to KUNA on Wednesday, the bureau indicated that inflation rate in Kuwait increased by 0.25 percent on a monthly basis due to rise of prices of some main groups that influence movement of the key indices.

It added that the consumer price index (CPI) for the food and beverage group rose by 10 percent last July in comparison to the same period last year, whereas group of cigarette and tobacco remained the same at 135 point on an annual basis. The clothing group rose by 6.52 percent and housing services increased slightly by 0.17 percent, while furnishings climbed 3.7 percent.

As for medical group, it rose by 2.27 percent and transportation surged by 5.4 percent. The communications group increased by 4.6 percent, and recreation and culture surged by 8.25 percent, whereas education group declined by 15.46 percent.

Restaurants and hotels increased on yearly basis by 0.9 percent, commodities and miscellaneous goods by 3.94 percent. The Consumer Price Index (CPI) is a measure that examines the average change in prices over time that consumers pay for a basket of goods and services, and is used for identifying periods of infl ation and deflation. (KUNA)

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