Kuwait Inflation Climbs
Kuwait City, Kuwait: Kuwait’s inflation rate continued its upward trend in April, reaching 3.17% compared to 3.02% in March, according to government data released.
Stay updated on Kuwait’s latest news and job openings by following our WhatsApp channel! https://whatsapp.com/channel/0029VaCkXo25q08jnKrRwo27
The Central Administration of Statistics reported the rise, attributing it to price hikes across several sectors. Food and non-alcoholic beverages saw the most significant increase at 5.79%, followed by clothing and footwear at 5.95%. Even housing services experienced a 1.41% rise.
Inflation reflects the overall increase in the price of goods and services over time. Economists categorize inflation based on its cause and speed, with demand-pull and cost-push being common types. Kuwait’s case could involve a combination of factors.
While the official figures provide some insight, some experts believe the true cost of living has risen even more sharply in Kuwait. They argue that the current inflation index may not fully capture the impact on everyday expenses, reported Arab Times.
Stay updated on Kuwait’s latest news and job openings by following our WhatsApp channel! https://whatsapp.com/channel/0029VaCkXo25q08jnKrRwo27
Comments (0)