Inflation rose by 4.42% in June ’22 – Rise in commodities

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KUWAIT CITY, Aug 3: Data from the Central Administration of Statistics show the consumer price index (inflation) in Kuwait increased by 4.42 percent last June, reports Al-Rai daily. In a statement to the Kuwait News Agency (KUNA) statistics show that the inflation rate in Kuwait rose by 0.40 percent on a monthly basis due to the rise in the prices of a number of major commodities affecting the movement of index numbers, especially foodstuffs and education.

The index of the first group (food and beverages) rose last June by 8.04 percent compared to the same month in 2021, while the price index of the second group (cigarettes and tobacco) did not change and remained stable at 135 points on an annual basis. The sources explained the third group index (clothing) rose by 6.15 percent, while the prices of the (housing services) group increased by 2.17 percent, while the inflation rate in the fifth group (home furnishings) increased by 2.18 percent.

The price index of the sixth group (health) increased by 2.13 percent, while the prices of the (transportation) group witnessed an increase of 3.77 percent last June compared to the same month of 2021. The statistics indicated that the prices of the eighth group (telecommunications) rose by 2.29 percent on an annual basis, and the inflation rate in the ninth group (entertainment and culture) increased by 3.78 percent, while the prices of the tenth group (education) jumped by 19.05 percent. She added that the prices of the (restaurants and hotels) group rose on an annual basis last June by 2.67 percent, while the prices of the group (miscellaneous goods and services) increased by 3.21 percent.

The consumer price index is a tool for measuring price levels in general between two periods, either monthly or annually, and it is usually a basic indicator for measuring economic growth or deflation, through which the state can take economic and commercial decisions and formulate financial and monetary policies.

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