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FINANCIAL NEWS
Kuwait inflation soars to 5.3% in September
04 Nov 2010
(MENAFN) Kuwait’s central statistics office revealed that inflation in Kuwait has reached 5.3 percent in September, rising to its highest point since March 2009, as a result of a surge in food prices by 10.8 percent, Middle East Online reported.
The consumer price index accelerated to 143.5 points from 136.3 points, whereas clothing jumped by 5.9 percent and housing by 5.8 percent. Only transport and communications fell slightly, the figures showed.
In September, Salem Abdulaziz al-Sabah, the governor of the central bank expected inflation to be between 4.0 percent and 4.5 percent by the end of this year. In 2009, inflation was at 4 percent by December-end, plummeting from a record-high 10.6 percent in 2008.
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