Kuwait’s annual inflation rate grows to 2.9 percent in 2014

12 Feb 2015

(MENAFN) The average annual rate of Kuwait’s headline inflation grew 2.9 percent in 2014, compared with only 2.7 percent 2.7 percent in 2013, a specialized economic report showed, Saudi Gazette reported.

Kuwait’s inflation remained between 2.7 percent and 3.0 percent throughout most of 2014, with headline inflation logging in an annual average of 2.9 percent; just a tad higher than the nine-year low of 2.7 percent posted in 2013, a report issued by the National Bank of Kuwait showed.

The report noted that the inflation in the consumer price index (CPI) eased in December; core inflation saw an uptick.

Core inflation was led higher by a pickup in housing inflation. Headline inflation eased as the rise in housing inflation was offset by a slowdown in the CPI’s other major components, food inflation in particular. Food inflation softened in December, in-line with international food prices. The stronger dinar against currencies other than the US dollar also kept overall inflation in check, the report added.

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