FINANCIAL NEWS

Kuwaiti inflation down to 3.3% in April

01 Jun 2012

(MENAFN) Kuwait’s Central Statistics Office stated that the country’s inflation in April dropped to 3.3 percent year-on-year, recording the lowest rate in 4 months, reported Arabian Business.

The agency said that the figure is compared with a year-on-year rise of 4.1 percent in the previous month.

It added that on a monthly basis, Kuwait’s inflation fell 0.6 percent in April, compared with a gain of 0.8 percent a month earlier.

Moreover, food costs went down by 2.6 percent in April from March, while transport prices rose 0.2 percent.

It is worth noting that the Kuwaiti civil service commission decided to increase wages of public sector employees by between 25 percent and 30 percent and proposed to raise salaries of Kuwaiti private sector employees by USD1,190 a month.

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