FINANCIAL NEWS

Kuwait inflation eases to 2.8% in May

28 Jun 2012

(MENAFN) Kuwait’s consumer prices saw a slowdown to a 25-month low in May as food prices dropped, state news agency KUNA reported.

According to the Central office of Statistics, annual inflation rate stood at 2.8 percent last month year-on-year, while prices eased slightly on monthly basis, KUNA said.

The oil-rich Gulf country saw inflation drop gradually. It stood at 3.3 percent in April, down from a peak of 5.4 percent in May 2011.

The official data showed that consumer prices fell 0.1 percent month-on-month in May, compared to a 0.6 percent drop in April.

In May, food costs, which account for almost a fifth of Kuwait consumer expenses, fell 1.3 percent month-on-month, following a 2.6 percent drop in April, while transport prices rose a slight 0.1 percent from the previous month.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more

This site is registered on wpml.org as a development site.