FINANCIAL NEWS

Kuwait’s January inflation slows to 2.8%

20 May 2010

(MENAFN) A report issued by the Central Bank of Kuwait (CBK) showed that year-on-year inflation in Kuwait fell to 2.8 percent in January from 6.8 percent a year earlier, but it was up on December’s rate of 2.1 percent, Kuna reported.

The consumer price index (CPI) 2010 rose to 138.8 points from 135.0, with most of the hike caused by rises in food and beverages prices, according to figures from the CBK report.

Food prices rose by 5.2 percent while beverages and tobacco surged 13.4 percent. Only transport and communications fell by only 1.6 percent, the figures showed.

The January rise in CPI over the previous month prompted calls by the Gulf state lawmakers for the government to act.

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