{"id":183024,"date":"2021-01-01T19:08:13","date_gmt":"2021-01-01T19:08:13","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=183024"},"modified":"2021-01-01T19:08:24","modified_gmt":"2021-01-01T19:08:24","slug":"significant-increase-in-kuwaits-annual-inflation-rate","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/significant-increase-in-kuwaits-annual-inflation-rate\/","title":{"rendered":"Significant increase in Kuwait’s annual inflation rate"},"content":{"rendered":"\n

Kuwait’s official data showed that inflation rates rose by 2.78% on an annual basis, due to the Coronavirus pandemic repercussions.<\/p>\n\n\n\n

The Kuwaiti Central Statistical Bureau said in a statement that inflation rate rose last November by 118.2 points compared to 115 points in the same period last year.<\/p>\n\n\n\n

The statement said nine groups\u2019 prices have risen, most notably food and beverages by 9.83%. This has affected the annual performance index.<\/p>\n\n\n\n

The prices of education and restaurant groups decreased by 15.12% and 0.08%, respectively. But, the housing services group stabilized, according to the statement.<\/p>\n\n\n\n

The rate of inflation in Kuwait grew by 0.25% over the past.<\/p>\n\n\n\n

On a monthly basis, the prices of the remaining groups were stable.<\/p>\n\n\n\n

In March of 2020, Kuwait’s consumer price inflation increased to 1.9% year-on-year. This is compared to 1.7% in February, and 1.5% at the end of the last quarter of 2019.<\/p>\n\n\n\n

The forecast for the whole of 2020 indicated a decline in inflation in the country due to the weak economic conditions in general.<\/p>\n\n\n\n

Inflation\u2019s causes<\/strong><\/h5>\n\n\n\n

Last June, the National Bank of Kuwait said in a report the high inflation rates are due to several factors, including the high prices of foods, home furnishings and maintenance equipment, and decline in housing rents deflation.<\/p>\n\n\n\n

Rents’ decline rate may appear to have decreased to low levels after many years of weakness due to oversupply. However, the sector may witness a new wave of decline, due to the weak growth and lower housing demand, with the possibility of a decline in the number of expatriates.<\/p>\n\n\n\n

At the same time, the basic components of inflation, especially consumer goods such as clothing and household goods, may face pressures that push them back.<\/p>\n\n\n\n

It is worth noting that the local authorities in Kuwait intensified their efforts to prevent price manipulation, especially during the outbreak of the pandemic.<\/p>\n\n\n\n

Travel restrictions and concerns about food shortages have led to spikes in purchases of basic consumer goods.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Related:<\/p>\n\n\n\n

Inflation in Kuwait up by 2.18% in August<\/a><\/p>\n\n\n\n

Positive Signs Of Close Deal Ending Gulf Crisis<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kuwait’s official data showed that inflation rates rose by 2.78% on an annual basis, due to the Coronavirus pandemic repercussions. The Kuwaiti Central Statistical Bureau said in a statement that inflation rate rose last November by 118.2 points compared to 115 points in the same period last year. The statement said nine groups\u2019 prices have […]<\/p>\n","protected":false},"author":4,"featured_media":183025,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[692],"class_list":["post-183024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-kuwait"],"yoast_head":"\nBNReport - Significant increase in Kuwait's annual inflation rate<\/title>\n<meta name=\"description\" content=\"Business News Report - Business - Kuwait's official data showed that inflation rates in rose by 2.78% on an annual basis.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/significant-increase-in-kuwaits-annual-inflation-rate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BNReport - 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