Kuwait moves to control inflation and regulate prices with new committee

07/05/2025

Kuwait moves to control inflation and regulate prices with new committee

New central committee begins work to monitor prices, control inflation, and regulate supply chains.

KUWAIT CITY, May 7: The Central Committee for Price Studies, Inflation Monitoring, and Supply Chains — recently established to oversee markets and stabilize prices — has officially begun its internal organizational work. The committee held its first meeting yesterday, during which key leadership positions were assigned and subcommittees were formed, signaling a serious governmental effort to recalibrate the country's pricing system.

According to informed sources, members representing 15 government and private sector entities quickly reached a consensus on the distribution of roles. Chaired by the Ministry of Commerce and Industry, the committee is now positioned to begin executing its core field responsibilities, including monitoring market prices, tracking inflation, protecting national products, and regulating supply chain operations.

Sources indicated that the meeting laid the groundwork for a series of intensive upcoming sessions to evaluate pricing requests from companies, review the introduction of new products, and ensure the availability of essential goods in local markets. These steps are part of a broader ministerial initiative to bring order to market dynamics and prevent price manipulation or supply disruption.

Four specialized subcommittees were established:

Price Monitoring Committee: Responsible for observing market trends and approving any proposed price increases.n
Inflation Committee: Tasked with analyzing both local and international economic indicators and recommending appropriate actions.n
Market and Supply Chain Regulation Committee: Charged with overseeing distribution networks and addressing potential bottlenecks.n
Strategic Stockpile Committee: Focused on evaluating reserves of essential goods and preparing for emergencies.n

Sources emphasized that no price change will be permitted without prior approval from the Price Monitoring Committee. Adherence to regulatory frameworks remains essential to ensure market stability.

In a move to institutionalize the committee's mission and underscore its commitment to public service, members of the committee and subcommittees will not receive any financial compensation. This, according to sources, reflects a clear intent to serve the public interest over personal gain.

Additionally, a dedicated team has been assigned to the Secretariat to coordinate committee operations and provide periodic reports to the Minister of Commerce and Industry.

Sources added that the coming weeks will be critical in assessing the committee's effectiveness on the ground, especially given ongoing challenges such as rising import costs, global market volatility, and seasonal demand pressures.

The committee has been granted the necessary authority and structure to play a proactive and robust regulatory role in stabilizing the market.