Kuwait’s inflation rate up 3.13% in November: Report

KUWAIT: The Consumer Prices Index (CPI) for the month of November, 2015 showed an increase estimated at 3.13 percent compared with November of 2014, the Central Statistical Bureau said in its report yesterday.

The report gives indications of the rates of changes in prices for the commodity groups influencing the families’ expenditure and the ability of consumer spending. The index uses the year 2007 as the base year.

The index figure during the month of November, 2015, recorded a rise of 138.3 by 0.07 percent as a result of the rise in prices of some major groups with influential figures in the movement and low standard of some groups.

The inflation of groups of food and beverages, and tobacco narcotics rose respectively by 0.46 on a monthly basis and 0.26 percent on a yearly basis, however clothing and footwear dropped by 0.16 percent on a monthly basis and housing services was stable, the report added.

The CPI of furnishing equipment and household maintenance went up last November by 0.07 percent on a monthly basis compared with last October, while health increased by 0.16 percent on a monthly basis, it said. The CPI of transport was stable last November; however it rose in communication by one percent on a yearly basis and increased in recreation culture by 0.08 percent, it noted. The index figure is a tool to measure changes of prices in general between two periods either on a monthly or yearly basis. — KUNA