FX.co ★ Kuwait Inflation Rate at 3-Month High of 2.32%

In June, Kuwait's annual inflation rate climbed to 2.32%, up from 2.25% in May, which was the lowest point observed since September 2020. This marks the highest rate since March, primarily due to accelerated increases in the costs of food and beverages, which rose by 5.11% compared to 4.72% in May—the most significant jump in four months. There were also notable rises in prices for housing services, up to 0.98% from 0.74%, and for restaurants and hotels, increasing to 1.94% from 1.50%. Inflation rates remained stable in the communication sector at 0.64% and in recreation and culture at 1.92%. However, there was a deceleration in inflation within the health sector, dropping to 2.94% from 3.79%, as well as in education, which fell to 0.71% from 0.87%. Clothing and footwear also saw a decrease, reducing to 3.93% from 4.09%, and there was a slight downturn in home furnishings and maintenance equipment, easing to 3.30% from 3.38%. Miscellaneous goods and services saw a small decline to 4.80% from 4.90%. On the contrary, transportation costs declined more sharply, falling by 1.81% compared to a 1.05% drop previously. On a monthly scale, consumer prices increased by 0.29% in June, marking a quicker rise compared to the 0.15% increase seen over the preceding two months.