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Kuwait's inflation rate rises by 3.69 pct in May

KUWAIT CITY
2023-07-11 04:55

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KUWAIT CITY, July 10 (Xinhua) -- Kuwait's consumer prices increased by 3.69 percent on an annual basis in May, according to figures released by the country's Central Statistical Bureau.

The bureau announced on Sunday that inflation rate in Kuwait registered a month-on-month increase of 0.15 percent in May, driven by price increases across major groups, particularly food, education, and clothing.

The prices of food and beverages went up by 6.85 percent in May compared to the same month of last year, while clothing prices rose by 6.80 percent year on year.

Mohammad Ramadan, a Kuwait-based economic analyst, attributed the country's inflation to global trends.

He said that the supply chain had challenges in meeting the growing demand in Kuwait as life has returned to normal after the COVID-19 pandemic.
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