Official government data showed today, Sunday, that the consumer price index in Kuwait rose 3.37% in December on an annual basis.
The data also showed an increase in the consumer price index by 0.30% in December month-on-month.
According to the statement of the Central Statistical Bureau today, Sunday, the inflation rate in Kuwait last month recorded 131.9 points, compared to 127.6 points in December 2022.
The increase affected the index with the rise of its twelve sub-groups, led by clothing and footwear by 6.72%, with an increase in food and beverages prices by 4.74%, and cigarettes and tobacco trailing the list by 0.22% on an annual basis.
On a monthly basis, the inflation rate in the state of Kuwait increased by 0.30%, with the health group price rising 0.92%, followed by an increase in the restaurants and hotels group by 0.91%, and stable communication group prices.
Kuwait's annual inflation rate had reached 3.79% in November last without significant change compared to 3.8% in October. Clothing and footwear increased 6.86%, while food and beverages increased 5.81% in November on an annual basis.
The overall consumer price index rose 0.23% month-on-month in November with food and beverages rising 0.9%, while clothing and footwear increased 0.44%.
In a related context, Kuwait's imports in the third quarter of 2023 rose to 2.807 billion dinars (about 9.078 billion dollars) compared to 2.665 billion dinars in the same period last year.
During the third quarter, exports decreased to 6.497 billion dinars from 7.872 in the third quarter of 2023, while Kuwait's trade surplus fell to 3.8 billion dinars in the third quarter from 5.3 billion a year earlier.
