KUWAIT CITY, Aug 21: The Consumer Price Index (CPI) in Kuwait recorded a 3% year-on-year increase in July 2024, according to data released by the Kuwait Central Statistical Bureau (KCSB). The KCSB also reported a slight month-on-month rise of 0.15% compared to June, attributing the overall inflation to price hikes in key sectors such as clothing, food, education, and housing. The food and beverage sector saw a notable increase, with prices rising by 5.89% compared to July 2023. The clothing sector followed closely, with a 5.63% increase.

Other significant contributors to inflation included home furnishings (up 3.79%) and health services (up 4.07%). Housing services experienced a more modest rise of 0.91%, while transportation costs increased by 0.49% compared to the same period last year. The communications sector also saw a 2.45% rise, while entertainment and cultural expenses grew by 2.35%. Education costs increased by 0.96%. The hospitality industry, including restaurants and hotels, saw a 2.52% increase, and various goods and services rose by 4.86%. Excluding the food and beverage sector, the overall inflation rate in Kuwait for July stood at 2.35% on a year-on-year basis, reflecting a broad-based increase across multiple sectors. (KUNA)