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Kuwait’s inflation slows to 2.8% in April

27 Jul 2010

(MENAFN) Kuwait, the world’s fourth largest oil exporter, posted annual inflation of 2.8 percent in April in line with levels since the start of the year as food and transport costs stayed steady, Reuters reported.

On the month, consumer prices in the Gulf country remained unchanged in April, following a 0.8 percent rise in the previous month, the data showed.

Housing prices, which have the largest weight of 27 percent in the overall basket, stayed flat month on month in April, after rising 1.4 percent in March. Food prices, which account for 18 percent of the basket, fell by 0.1 percent from the previous month, following a 0.8 percent rise in March.

Inflation in OPEC member Kuwait was at 2.9 percent year-on-year in March, after touching a three-and-half year low of 1.6 percent in November.

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