publish time

21/07/2024

author name Arab Times

publish time

21/07/2024

Kuwait sees a 2.84% inflation rise in June year-on-year driven by food and clothing.

KUWAIT CITY, July 21: Kuwait's consumer price index (CPI) rose by 2.84% in June compared to the same month last year, according to data released by the Central Statistical Administration on Sunday.

On a monthly basis, the inflation rate saw a modest increase of 0.22% from May to June.

The administration attributed the annual rise in inflation to higher prices in several key sectors, notably food, clothing, and education.

The food and beverage sector experienced a significant 5.60% increase in June year-over-year. The cigarettes and tobacco sector saw a slight annual rise of 0.15%.

Clothing prices increased by 5.58%, while the housing services sector saw a 0.91% uptick. Home furnishings prices rose by 3.80%.

The health sector's price index increased by 3.99%, and the transportation sector saw a 0.70% rise compared to June 2023.

Communications prices rose by 2.29% annually, while the entertainment and culture sector experienced a 2.04% increase. Education costs saw a 0.96% rise.

Restaurant and hotel prices went up by 2.52% on an annual basis, and the miscellaneous goods and services sector saw a 4.55% increase.

Excluding the food and beverage sector, Kuwait's inflation rate rose by 2.27% in June year-over-year.