RIYADH: According to the most recent data from the Central Statistical Bureau, Kuwait’s inflation rate stayed stable at 2.49 percent in February, despite an increase in food and service prices year over year. The measure was about the same as the 2.5% number that was observed in December and January. The index hit 135.7 in February, indicating ongoing price increases in a number of significant spending categories. Even while the rate of inflation is still mild generally, several industries had notable annual cost increases.
The apparel and footwear section experienced a 4.63 percent gain, while the food and beverage industry saw a 5.23 percent year-over-year growth. Higher prices for personal products and services drove a 5.46 percent increase in prices in the miscellaneous goods and services sector. The furnishing and household maintenance section had a 3.04 percent increase, while healthcare prices also witnessed a substantial 4.08 percent increase.
The inflation patterns in Kuwait closely resemble those in the other nations that make up the Gulf Cooperation Council. In February, Saudi Arabia’s inflation rate stayed stable at 2% year over year, mostly due to an 8.5 percent rise in housing rents. The personal goods and miscellaneous services sector saw a 6.3 percent increase in the same month, whereas Oman saw a less severe annual inflation increase of 1 percent.
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