Kuwait’s consumer price index (CPI), which measures inflation, increased by 2.92% annually last August, as reported by the Kuwait Central Statistical Bureau (KCSB). In a statement to KUNA on Wednesday, the bureau noted a monthly rise of 0.97% compared to July, highlighting the contributing factors to this inflationary trend.

 Key Contributors to Inflation

• Food and Beverages: The price index for this group rose by 5.96% compared to the same month last year.
• Clothing: The CPI for clothing increased by 5.76%.
• Housing Services: Housing services saw a modest increase of 0.91%.
• Furniture: Prices in this category climbed by 3.17%.
• Health: The health index rose by 0.49% year-on-year.

 Other Notable Increases

• Transportation: Increased by 2.37% annually.
• Communications: Also rose by 2.37% year-on-year.
• Culture and Entertainment: Increased by 2.19%.
• Education: Saw a rise of 0.96%.
• Restaurants and Hotels: Climbed by 2.52% in August.

Excluding Food and Beverages

The consumer price index (CPI), excluding food and beverages, recorded a year-on-year increase of 2.35% in August. The CPI serves as a critical measurement for assessing price changes on both a monthly and annual basis, making it an essential indicator for economic growth and recession.