Complex Made Simple

Kuwait’s inflation rises slightly by 3.2 per cent in October

Food prices registered a decline, in line with global markets

The inflation rate of consumer prices in Kuwait rose slightly during October by 3.2 per cent year-on-year (YoY) from 3.1 per cent YoY in September.

Inflation has remained stable in general across most components, while clothing and footwear witnessed a larger rise on a monthly basis, according to the National Bank of Kuwait’s report.

Food prices also declined by 4.3 per cent in October from 4.4 per cent YoY in September, in line with the decline in global food prices, which reached almost 13 per cent YoY in October, according to the Commodity Research Bureau’s global commodity index.

The inflation in housing services remained at September’s 5.7 per cent YoY, adds the report.

The prices of household furnishings and maintenance products continued to decline during October.

The inflation rate also decreased for other goods and services in October.