Headline : Inflation in Kuwait rises nearly 3% in June

Read more from the original article on here at www.arabtimesonline.com.

---

No. of Paragraph 16

25/07/2024

KUWAIT CITY, July 25: The recent data from the Central Administration of Statistics shows that Kuwait’s annual consumer price index (CPI) inflation grew by 2.84% in June. This figure highlights a persistent inflationary trend since the CPI base year was recalculated in 2017 to 2013, rather than the previous 2007 base year.

Over the 78 months studied, inflation in Kuwait has risen by 18.4%, notably higher than in other Gulf countries, except where VAT impacts are considered, such as in Saudi Arabia and the UAE. The inflation increase is primarily driven by substantial rises in specific categories -- food and beverages: 39.2 percent; clothing and apparel: 31.5 percent; entertainment and culture: 25.3 percent; communications: 23.4 percent and transportation: 21.1 percent. Conversely, the “housing services” category saw a modest increase of 4.5 percent, which is considered low since it does not account for residential transactions or rents.

This discrepancy suggests that the actual inflation affecting consumers might be higher than reported. Critics argue that the inflation data does not fully reflect real-world economic conditions due to outdated measurement methods and inadequate data collection practices. The Household Income and Expenditure Survey, which is conducted every decade, fails to capture current trends in purchasing power and consumer behavior, making the inflation statistics less meaningful.

Read more from the original article on here at www.arabtimesonline.com.

Related Headlines : Inflation in Kuwait rises nearly 3% in June (in Google.com):

Hello, below you have a "Web" tab to read more content and an "Image" tab to get related pictures

Example : Trends, Country, News, Jobs, Scholarships, Investment, Business, Politics, Adverts, Fashion, Events, Technology and more.