Kuwait’s consumer price index (CPI), which measures inflation, increased by 2.44% year-on-year in October, according to the Kuwait Central Statistical Bureau (KCSB). In a statement to KUNA on Tuesday, the bureau reported that the inflation rate rose by 0.13% compared to September. The rise in annual inflation was mainly attributed to price increases in key sectors that influence the CPI, particularly clothing, food, and education, while transportation costs were excluded from the calculation.
The index for the food and beverages group rose by 4.98% in October compared to the same month in 2023. The cigarettes and tobacco group saw a slight annual increase of 0.15%. Additionally, the clothing group saw a 5.56% rise, while housing services increased by 0.57%. The home furnishings group also experienced a price hike of 4.06%.
The bureau further noted that when excluding food and beverages, the inflation rate in Kuwait increased by 1.87% on a yearly basis in October. (KUNA)