Food prices and clothing propel Kuwait’s 3.37% annual inflation

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KUWAIT CITY, Jan 22: In December 2023, the general consumer price index in the State of Kuwait showed 3.37% annual increase, attributed to a 0.30% monthly rise across all twelve index groups, reports Al-Seyassah daily.

According to a statement from the Central Administration of Statistics, the inflation rate reached 131.9 points last month, compared to 127.6 points in December 2022.

The inflationary impact was notable across all twelve groups, with the clothing and footwear category experiencing the highest increase at 6.72%.

Additionally, the prices in the food and beverage group rose by 4.74%. Conversely, the cigarette and tobacco group registered the lowest annual increase at 0.22%. 

Monthly, Kuwait’s inflation rate grew by 0.30%, with the health group witnessing a 0.92% increase, followed by a 0.91% rise in the restaurants and hotels group. The communications group prices remained stable during the same period.

When excluding the food and beverage group, the calculated inflation rate in Kuwait rose by 2.95% annually and increased by 0.31% monthly. Furthermore, after excluding the housing group, the inflation rate recorded an annual growth of 3.80%, with a monthly increase of 0.44%. 

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