It noted that the Central Bank of Kuwait took these decisions and measures to change local interest rates based on an analysis of the latest available economic, monetary, and banking information and data, including general economic rates inflation levels, and local liquidity indicators, as they are the most important factors that determine the need to move interest rates. The report stated that the decision has been made after considering various elements affecting the consumer price index to identify and evaluate the factors that constitute pressure on prices, as well as taking into account the nature of the Kuwaiti economy that is open to the outside world.

demand rates for goods and services, the report said that 2019 witnessed an increase of 0.3 percent, while it recorded a shrinkage in 2020 by (-3.4) percent, after which demand increased clearly at about 6.8 percent and continued to rise in 2022 to about 8.5 percent. It added that in 2023, the demand rate growth had decreased to about 3.2 percent, while the level of supply of goods and services was affected by geopolitical developments, which was reflected in the rise in production costs due to the rise in energy prices. Moreover, the report said that Inflation was able to maintain acceptable levels during the fiscal years, in light of the relative stability of indicators of the commodity groups that affect the living expenditure of families, which in turn determines the capacity of consumer spending and services for members of society. (KUNA)