(MENAFN - Arab Times) Inflation rates in Kuwait reached 3.8 percent in February compared to the same month of the past year, with the main annual index increasing from 145.8 points in February last year to 151.4 points the same month of this year, according to the Central Statistical Bureau.
The all-items consumer price index, in February, rose 0.2 percent compared to January. That of the food increased 8.6 percent, in February, compared to the same period of the past year, the office said in its monthly report, released on Sunday.
Price index of cereals and bread rose 0.1 percent, that of dairy products and eggs by 0.3 percent, oils and fats, 0.1 percent, fruits and vegetables, 0.1, tea, coffee and cocoa, 0.6 percent, and that of other food 0.4 percent. Price index of meat, poultry and fish dropped 0.2 percent.
Group beverages and tobacco increased by 0.1 percent, that of the group, clothing and footwear, increased by 1.4 percent.
Price index for the major group household, goods and services, decreased by 0.4 percent due to the combined effect of the fall in the price of furniture and carpets by 1.4 percent and price of household operations except services by 0.1 percent and rise in the price of household utensils by 0.6 percent. The price index for the group, education and medical care, increased by 2.8 percent due to the rise in the price of education by 3.2 percent and price of medical care by 0.1 percent.
The price index for other goods and services increased by 0.1 percent due to the rise in the price of good for personal care by 1.8 percent while the price of the miscellaneous goods decreased by 0.4 percent.
Meanwhile, the government will seriously consider the recommendations of the Economic Consultant Commission but it does not have a magic wand to execute everything in one day, reports Al-Rai daily quoting acting Finance Minister and Minister of Education and Higher Education Dr Nayef Al-Hajraf.
Al-Hajraf asserted the government has started working only five weeks ago, so it needs more time to implement the recommendations which should be studied carefully to serve their purpose. He explained the proposed pay raise schemes have been tabled for discussion but there are other aspects of development that must be taken into consideration prior to the approval of the new pay scales.
He admitted he is worried about the incessant demands for pay raise as it might create a generation of workers, who do not value their jobs and who totally rely on the country, instead of contributing to national growth.
He also cited recent reports showing that 91.6 percent of Kuwait's income comes from oil and this poses a grave threat to the national coffers if the country does not find alternative sources of revenues.
