Kuwait’s inflation increases to 3.06 pct in July: data

Housing services jumps 7.33%, food and beverages up 0.46%

KUWAIT CITY, Aug 24, (KUNA): Inflation in consumer prices in the State of Kuwait rose to 3.06 percent in July, compared to the same month 2015, according to Kuwait central Statistic Bureau.

The department said in its monthly report that the index figure for the month of July 2016 recorded an increasing at 141.7, by 0.07 percent as a result of the rise in prices of some major groups of influential figures in the movement and low standard of some groups.

The CPI for the month of July 2016 recorded an increase estimated at 3.06 percent compared to July 2015.

Following it the last of the monthly change of prices: Food and beverages: 0.46 percent, tobacco narcotics: 0.00 percent, clothing and footwear 0.16- percent, housing services: 0.00 percent, furnishing equipment and household maintenance: 0.14- percent, health: 0.23 percent, transport 0.00 percent, communication: 0.00 percent, recreation culture 0.08- percent, education 0. 00 percent, restaurants and hotels 0.00 percent, miscellaneous goods and services 0.30 percent.

Annual Change in Groups (percent): Food and beverages: 1.19 percent, tobacco narcotics: 0.59 percent, clothing and footwear 0.55 percent, housing services 7.33 percent, furnishing equipment and household maintenance 2.65 percent, health: 2.03 percent, transport -1.92 percent, communication 0.50 percent, recreation culture 0.31 percent, education 3.48 percent, restaurants Hotels 4.05 percent, miscellaneous Goods Services 1.15 percent. The following is an analysis of the price indices for the main group’s index of consumer prices: Food and Beverages: The Index for this group increased in the month of July 2016 by 0.46 percent and the following indicators affecting the food group in the month of July 2016 as a result of: 1. Rise in prices of fish seafood by 1.35 percent; 2. Rise in prices of fresh, chilled frozen fruits by 0.67 percent; 3. Rise in prices of fresh, chilled frozen vegetables by 1.27 percent; 4. Rise in prices of sugar sugar products by 0.22 percent; 5. Rise in prices of beverage by 0.07 percent; 6. Fall in prices of milk, cheese eggs by 0.29 percent; 7. Fall in prices of other foods by 0.07 percent; 8. The price of cereals and bread stood at 120.4; 9. The price of meat poultry stood at 151.9; 10. The price of oil fats stood at 138.5.

Annual inflation rate for this group increased in July 2016 by 1.19 percent compared with July 2015. Tobacco Narcotics: The index stood in July 2016 at 152.5, as in the last month without any change. Aannual inflation rate for this group increased in July 2016 by 0.59 percent compared with July 2015.

Clothing and Footwear: The Index for this group decreased in the month of July 2016 by 0.16 percent , the following indicators affecting “Clothing and Footwear” group: 1. Fall in prices of clothing by 0.16 percent; 2. Fall in prices of footwear by 0.08 percent. The annual inflation rate increased for this group in the month of July 2016 by 0.55 percent compared with July 2015.

Main Group of “Home Furnishings and Equipment Maintenance”: The Index for this group decreased in the month of July 2016 by 0.14 percent, the following indicators affecting “Home Furnishings and Equipment Maintenance” group: 1. Fall in prices of furniture, furnishings carpets by 0.30 percent 2. The prices of household appliance stood at 135.8.

Annual inflation increased in July 2016 by 2.65 percent compared with July 2015.