Inflation Rates In Kuwait Are The Lowest Worldwide

In collaboration with a local Arabic daily and sponsored by Lexus, Araa Company for Research and Marketing Consultations published the Consumer Confidence Index for Kuwait for March, 2022 to tracking the economy of Kuwait. March index rates decreased by a minimum of 5 points and a maximum of 14 points.

Based on consumer opinions and perceptions regarding the current economic situation and the future economic situation, together with their expectations for their future financial conditions, the Consumer Confidence Index is the only indicator which measures psychological factors.

A sample of 500 people was collected among Arabs in every governorate for this index, which is based on data from a study of 500 people. Kuwait's demographic structure is taken into account when random phone calls are made.

A measure of the psychological state of the Kuwaiti consumers is calculated from the results of the six indicators using the answers provided by the sample members based on the questionnaire categories of "positive", "negative" and "neutral", with the value of 100 points between optimism and pessimism.

Considering the concerns over the Russian-Ukrainian conflict, the escalating trade war and the measures taken by many countries, the decrease in confidence in these regional and international conditions is logical, particularly when considering food security issues in developing economies.

In this atmosphere, oil prices maintained their high levels despite their decline sometimes under pressure, such as when the United States of America used some of its strategic oil reserves to reduce prices while reducing showdowns between political groups and the general public, as well as when it compelled several other countries to use their fuel reserves.

This is in addition to the negative impact of the re-emergence of the Corona pandemic in the Republic of China and the resulting atrophy in production, and consequently a reduction in the levels of economic growth in general and production in particular, which leads to a decrease in demand.

Many countries have suffered from high levels of monetary inflation, either due to Corona's aftershocks or the trouble that erupted during February. There is a decline in the number of consumers not for reasons that are directly local, but for reasons that are globally prevalent, especially in light of the rise in the prices of many commodities and foodstuffs, and the fear that they will be cut off.

Citizens scored 93 points out of a possible 100 points for the general index, losing 12 points within a month. Arabs scored 114 points, a decline of 6 points compared to their previous assessment.

According to the level of regions, the capital scored 96 points, down seven points, while the Hawalli average dropped by 14 points, the Al-Ahmadi average by ten points, the Al-Farwaniya average by eight points, Jahra contributed four points and Mubarak Al-Kabeer scored one point.

In reference to simple workers with intermediate and below level studies, their confidence rates dropped anywhere from 10 to 13 points. As we move into the month of April, it is essential to keep an eye on developments at all levels so that the consumer's situation can improve.

Comments Post Comment

Leave a Comment

Submit