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FINANCIAL NEWS
Kuwait’s inflation accelerates in October
23 Nov 2010
(MENAFN) Kuwait’s Central Statistics Administration said that the country’s inflation rate was up by 5.1 percent last October compared to the same month of 2009, AP reported.
The biggest inflation hike in the groups of commodities was seen in the foodstuff group which soared by 10.6 percent compared to the corresponding period of last year, it said.
Meanwhile, the housing services group posted an increase of 5.8 percent, it added. It pointed to a hike in the inflation rate of the group of clothes and footwear by 5.1 percent, an increase of 4.1 percent in the educational and health services group, and an increase of 3.4 percent in the group of other commodities and services compared to July of 2009.
The group of household commodities and services was up by 2.8 percent, the beverages and tobacco group increased 1.8 percent, while the transportation and communication group hiked 0.5 percent, it added.
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