Data from the Central Administration of Statistics showed that the consumer price index (inflation) in Kuwait increased by 4.36% last March on an annual basis.
In a statement to Kuwait News Agency (KUNA) yesterday, the “Statistics” said that the inflation rate in Kuwait rose by 0.24% last March on a monthly basis due to the rise in the prices of a number of major groups affecting the movement of indices, especially foodstuffs and education.
She added that the index of the first group (food and beverages) increased last March by 7.18% compared to the same month of 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.
She explained that the index of indices for the third group (clothing) increased by 6.13%, while the prices of the group (housing services) increased by 2.26%, and the inflation rate in the fifth group (home furnishings) increased by 2.19%. She stated that the price index of the sixth group (health) increased by 1.78%, while the prices of the (transport) group witnessed an increase of 4.82% last March compared to the same month of 2021.
It reported that the prices of the eighth group (communication) rose by 2.39% on an annual basis, and the inflation rate in the ninth group (entertainment and culture) increased by 3.73%, while the prices of the tenth group (education) jumped by 18.95%.
The “Statistics” indicated that the prices of the (restaurants and hotels) group rose on an annual basis last March by 2.85%, and the prices of the (miscellaneous goods and services) group increased by 3.59%.
The consumer price index is a tool for measuring price levels in general between two periods, either monthly or annually, and 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.