Kuwait’s Inflation Surged by 3.28% in January

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KUWAIT CITY, Feb 21: According to the data released by the Central Administration of Statistics, consumer price indexes (inflation) in Kuwait witnessed a 3.28 percent increase during January compared to the same period last year, reports Al-Rai daily. The statistics indicated a 0.15 percent monthly rise in inflation compared to December of the previous year. The annual increase in inflation was primarily driven by rising prices across key groups affecting the overall index movement, notably in clothing, food, education, and housing services. Specifically, the food and beverages group index surged by 4.80 percent compared to January 2023, while the index for cigarettes and tobacco experienced a slight uptick of 0.22 percent annually.

The clothing group’s index notably increased by 6.43 percent, followed closely by a 2.35 percent increase in housing services and home furnishings saw a 3.92 percent inflation rate. The health group index rose by 2.74 percent in January, while transportation experienced a 2.36 percent increase compared to the same month in 2023, despite witnessing a 0.28 percent decrease every month from December. Communication prices increased by 2.63 percent annually, and entertainment and culture witnessed a 2.71 percent rise, with education prices increasing by 0.88 percent. Restaurants and hotels recorded a 2.39 percent annual inflation rate in January, while miscellaneous goods and services saw a 3.68 percent increase. Excluding food and beverages, the consumer price index (inflation) for December rose by 3.79 percent annually.

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