KUWAIT: Data from the Central Bureau of Statistics showed the consumer price index (CPI) in Kuwait increased by 4.15% last August on an annual basis, reports Al-Qabas daily. In a statement to KUNA on Wednesday, the bureau indicated that inflation rate in Kuwait increased by 0.08 percent on a monthly basis in August due to rise of prices of all main groups that influence movement of the key indices, namely food and education.
Consumer price index (CPI) for the food and beverage group rose in August by 6.89 percent, in comparison to the same month last year (2021), whereas the group of cigarettes and tobacco slightly rose, by 0.07 percent, on an annual basis.
The clothing group rose by 5.67 percent and housing services increased by 2.17 percent, while furnishings climbed by 1.94 percent. As for medical group, it rose by 1.95 percent and transportation increased by 4.3 percent, also in contrast to August in 2021. The communications group increased by 2.03 percent, on yearly basis, and recreation and culture surged by increased by 3.6 percent, whereas education group grew by 19.05 percent.
Restaurants and hotels increased on yearly basis by 2.67 percent, commodities and miscellaneous goods by 3.03 percent. The Consumer Price Index (CPI) is a measurement that examines prices over monthly or annual basis. Generally, it constitutes a basic index for growth and economic recession, where decision makers examine to take decisions at the economic level and work out fi nancial and monetary policies.