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Kuwait’s inflation increased by 3.02 percent

March of last year saw an annual growth of 3.02 percent in Kuwait’s consumer price index, or inflation, according to the Kuwait Central Statistical Bureau (KCBS).
Kuwait News Agency received a statement from the bureau stating that, on a monthly basis, Kuwait’s inflation rate increased by 0.38 percent that same month.
In March of this year, the benchmark for the first group—food and beverages—went up 5.71 percent when compared to the same month in 2023. On an annual basis, the price index for the second group—cigarettes and tobacco—inched up by 0.15 percent. The clothing group saw a 6.37 percent increase in the consumer price index (CPI), housing services saw a 1.41 percent increase, and furniture saw a 3.90 percent increase.

According to the KCBS, the health index increased by 3.41 percent and the rates of transportation increased by 3.41 percent in March 2022 compared to the same month the previous year.
On an annual basis, communications increased by 2.46 percent, culture and entertainment by 2.27 percent, and education by 0.80 percent.
According to the report, services and other goods saw a 3.96 percent annual increase, while restaurants and hotels saw a 2.37 percent increase.
It further stated that, on an annual basis, the consumer price index (inflation) increased by 2.53 percent in November, excluding food and beverages.
One measure that looks at prices on a monthly or annual basis is the Consumer Price Index (CPI). In general, it constitutes a basic index for growth and economic recession, where decision-makers examine to make decisions at the economic level and work out financial and monetary policies.

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