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Kuwait inflation stands at 3.1 per cent in November

Food and beverages led the increase in prices

Kuwait Consumer Price Index (CPI), a measure that gauges inflation, edged up to an estimated 3.13 per cent, the Central Statistical Bureau said in its report on Sunday.

The report, published by the Kuwait News Agency (KUNA), traces the changes in prices for the commodity groups that influence households’ expenditure and the ability of consumer spending. The index uses 2007 as its base year.

During November 2015, the index showed an increase of 138.3, or 0.07 per cent, driven by the higher prices of some major commodity groups and services.

Prices in the food and beverages group continued to rise over the past month bringing the inflation rate to 4.3 per cent, up by 0.46 month-on-month.

Clothing and footwear dropped by 0.16 per cent month-on-month, while housing prices remained stable, the report added.

The CPI of furnishings and household maintenance inched up in November by 0.07 per cent on a monthly basis compared with October, while prices of health services increased by 0.16 per cent on a monthly basis, it said.

The index is a tool to measure prices variations between two periods, either on a monthly or yearly basis.