World Economy

Kuwait Inflation at 3.5%

Kuwait Inflation at 3.5%Kuwait Inflation at 3.5%

Annual consumer price inflation in Kuwait rose to 2.2% in June, though there were indications that pressures have eased in the last three months, AMEinfo reported. The report issued by the National Bank of Kuwait shows that inflation continued to rise in housing services during the month of June to 6.5%, despite the signs that indicate that pressures have eased during the second quarter. Inflation in food prices, which rose for the fourth consecutive month on a y-o-y basis, led to an increase in price pressures. However, the continued decline in global food price inflation means that there is a possibility for food prices to decline in the coming months. The stronger dinar (against the yen and the euro) is expected to reduce any significant inflationary pressures, says the report, adding that the average inflation rate for 2015 is approaching 3.5% and the base inflation rate is stabilizing around 3.5%.