Kuwait's July inflation rises by 2.71: report

(MENAFN- Arab Times)  KUWAIT CITY Aug 25 (KUNA): Kuwait's annual record of the general index of consumer prices (inflation) rate rose in July by 2.71 percent compared with the same month of last year the Central Statistical Bureau (CSB) announced Monday. In its monthly report the CSB however stated that the inflation rate remained unchanged on month-on-month basis. The CSB data showed that the inflation rate of four major groups increased retreated for two groups and remained flat for six groups compared with that of June. The groups which recorded inflation rate rises month-on-month were: tobacco and narcotics; furnishing equipment and household maintenance; transport; and recreation and culture. The groups whose inflation rates dropped were: clothing and footwear; and communications. The detailed data indicated that the inflation rate of the major group of 'furnishing equipment and household maintenance' hiked by 4.32 percent year-on-year and by 0.15 percent month-on-month. The inflation rate of the major group 'housing services' rose by 4.39 percent year-on-year and remained unchanged month-on-month.   Rose  Furthermore the inflation rate of the major group 'education' rose by 4.19 percent year-on-year and remained flat month-on-month. The inflation rate of the major group 'food and beverages' jumped by 1.96 percent year-on-year and remained changed month-on-month. The inflation rate of the major group 'clothing and footwear' surged by 2. 20 percent year-on-year and slipped by 0.38 percent month-on-month. The inflation rate of the major group 'restaurants and hotels' grew by 2.54 percent year-on-year but remained unchanged month-on-month. The inflation rate of the main group of 'recreational and cultural' rose by 0.47 percent year-on-year and by 0.15 percent month-on-month. The inflation rate of the main group of 'transport' swelled by 1.63 percent year-on-year and by 0.24 percent month-on-month. The inflation rate of the group 'tobacco and narcotics' soared by 12.58 percent year-on-year and by 4.77 percent month-on-month. The inflation rate of the main group 'health' dropped by 1.18 percent year-on-year and remained flat month-on-month. Meanwhile the inflation rate of the main group of 'communications' decreased by 0.99 percent year-on-year and by 0.10 percent month-on-month. The inflation rate of the major group 'miscellaneous goods and services' soared by 0.24 percent year-on-year and remained unchanged month-on-month.