Kuwait Inflation Rate at 3-Month High of 2.32%

The annual inflation rate in Kuwait accelerated to 2.32% in June, up from 2.25% in May, which had marked the lowest level since September 2020. June’s reading was the highest since March, mainly driven by faster increases in the prices of food and beverages (5.11% vs 4.72% in May), marking the largest rise in four months. Prices also rose more rapidly for housing services (0.98% vs 0.74%) and restaurants and hotels (1.94% vs 1.50%). Inflation remained steady for both communication (at 0.64%) and recreation and culture (at 1.92%). Meanwhile, inflation eased in several categories: health (2.94% vs 3.79%), education (0.71% vs 0.87%), clothing and footwear (3.93% vs 4.09%), home furnishings and maintenance equipment (3.30% vs 3.38%), and miscellaneous goods and services (4.80% vs 4.90%). In contrast, transport costs declined at a faster pace (-1.81% vs -1.05%). On a monthly basis, consumer prices rose 0.29% in June, accelerating from a 0.15% gain in the previous two months.