Inflation In Kuwait Up By 2.95 Percent In December, 2020

Kuwait’s inflation rate in December, last year, rose by 2.95 percent on a year-on-year basis, the Central Statistics Bureau (CSB) said on Thursday. In its monthly consumer prices index (CPI) report, CSB noted that the monthly rate rose by 0.34 percent in December compared with a month prior.

On the scale of individual sectors, there were significant rises for food and beverages (9.81 percent), culture and recreation (7.23 percent), commodities and miscellaneous goods and services (5.73), and telecommunications (5.3 percent). Other sector rises were witnessed in home furnishings and household maintenance (4.18 percent), transport (3.34 percent), cigarettes and tobacco (2.43 percent), clothing and footwear (2.19 percent), and healthcare (1.73 percent). Education was the only sector to have witnessed a downturn, plummeting by 15.46 percent.

Elsewhere, two sectors, namely housing services and restaurants and hotels, remained unchanged – the former unaffected for the second month in a row. The CPI measures prices in general, either on a monthly or yearly basis. It is also a basic indicator for growth or economic recession calculations, which the state may takes into consideration when making decisions regarding economic, commercial sectors or to map out monetary and financial policies.

 

SOURCE  TIMESKUWAIT

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