Beirut: Kuwait’s consumer price index, indicating inflation, grew by 2.44 percent last October on an annual basis, as reported by the Kuwait Central Statistical Bureau (KCSB). In a statement to KUNA on Tuesday, the bureau highlighted that the inflation rate also increased by 0.13 percent compared to the previous month of September.
According to Kuwait News Agency, the KCSB attributed the annual rise in inflation to the increased prices of key groups that significantly impact the index numbers. Notably, the sectors of clothing, food, and education saw considerable price hikes, whereas the transportation sector remained unaffected. The food and beverages group’s index surged by 4.98 percent compared to October of the previous year. Additionally, the price index for cigarettes and tobacco experienced a slight annual increase of 0.15 percent.
Moreover, the index for the clothing group recorded a significant rise of 5.56 percent, and the housing services group’s prices increased by 0.57 percent. The home furnish
ings group saw its inflation rate climb by 4.06 percent. The bureau further noted that excluding the food and beverages group, Kuwait’s inflation rate rose by 1.87 percent on an annual basis last October.