Kuwait inflation rate rises by 2.69% in October

Kuwait's consumer price index (inflation) increased in October by 2.69 percent compared with the same month of last year, the Central Statistical Bureau (CSB) announced Monday. In its monthly report the CSB, however, stated that the inflation rate jumped only by 0.15 month-on-month basis. The price index for six major groups increased and retreated for three others in the corresponding period. While the price index for three groups remained unchanged. The price index for the major group "Food and Beverages" hiked by 3.54 percent year-on-year and 0.21 percent month-on-month. The price index for the major group "cigarettes and tobacco" soared by 6.38 percent year-on-year and by 0.45 percent month-on-month. The price index for the major group "clothing and footwear" surged by 0.78 percent year-on-year and by 0.08 percent month-on-month. The price index for the main group of "home furnishings and equipment maintenance" hiked by 4.61 percent year-on-year and by 0.75 percent month-on-month. The price index for the main group "health" swelled by 0.56 percent year-on-year and by 0.24 percent month-on-month. The price index for the main group of "transport" inclined by 0.49 percent year-on-year and by 0.24 percent month-on-month. Meanwhile, the price index for the main group of "communications" decreased by 0.3 percent year-on-year and by 0.10 percent month-on-month. The price index for the main group of "recreational and cultural" dropped by 2.87 percent year-on-year and by 1.17 percent month-on-month. Furthermore, the price index for the major group "education" rose by 1.87 percent year-on-year and remained flat month-on-month. The price index for the major group "restaurants and hotels" grew by 0.87 percent year-on-year, but remained unchanged month-on-month. The price index for the major group "miscellaneous goods and services" retreated by 0.54 percent year-on-year and by 0.08 percent month-on-month. The price index for the major group "housing services" rose by 4.81 percent year-on-year, but remained flat month-on-month. The Central Statistical Bureau of the (Economic Statistics Department) has constructed the price indices for October 2013, based on the year 2007 = 100, by using the new relative weights for the basket of consumer goods derived from the 2007 household income and expenditure survey. These weights were used to revise the CPI (based on year 2007 = 100 as a base year) and construct price indices for next years).