Inflation Rate In Kuwait Rose To 3.17% In April

20 May 2024 Business

According to government data released on Sunday, Kuwait’s annual inflation rate increased to 3.17% in April, up from 3.02% in March. The Central Administration of Statistics reported on its website that several sectors contributed to this rise.

The food and non-alcoholic beverages category saw a significant increase of 5.79%, while the prices of cigarettes and tobacco edged up by 0.22%. Clothing and footwear prices also experienced a notable rise of 5.95%, and the housing services group increased by 1.41%.

Inflation, defined by the rise in prices of goods and services, can be categorized into four main types based on the speed of price increases. Additionally, there are specific forms such as asset inflation and wage inflation. Economists often classify demand-pull inflation and cost-push inflation as separate categories, alongside inflation driven by an increase in the money supply.

Despite the reported figures, some experts argue that the inflation index in Kuwait does not fully capture the true extent of inflation in the country.

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