Data from the Central Statistical Administration showed consumer price indices (inflation) in Kuwait rising by 3.15 percent at the end of 2022 compared to the end of 2021.
Kuwait's inflation rate rose 0.71 percent last December on a monthly basis for higher prices of all major groups influencing the movement of indices, especially food and education.
The first group index (food and tobacco) rose last December by 7.48 percent compared to the same month in 2021 and the second group price index (cigarettes and tobacco) rose slightly by 0.22 percent year-on-year.
The third group index (clothing) rose by 5.35 percent and the prices of the group (housing services) rose by 1.44 percent and the inflation rate in the fifth group (home furnishings) by 1.69 percent.The sixth group price index (health) rose 2.63 percent, while transport prices rose 2.85 percent in December compared to the same month in 2021.
According to the statistics, the prices of Group 8 (telecommunications) rose by one percent year-on-year and the inflation rate of Group 9 (recreation and culture) by 3.13 percent, while the prices of Group 10 (education) increased by 0.40 percent. Prices of the group (restaurants and hotels) rose year-on-year last December by 3.51 percent and prices of the group (miscellaneous goods and services) rose 3.75 percent.
The Consumer Price Index (CPI) is a tool for measuring overall price levels between either monthly or annual periods and is usually a key indicator for measuring growth or economic contraction as the State can make economic and trade decisions and formulate fiscal and monetary policies.
5.35 percent and the prices of the group (housing services) rose by 1.44 percent and the inflation rate in the fifth group (home furnishings) by 1.69 percent.
