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MENAFN - Arab Times - 27/12/2012

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(MENAFN - Arab Times) The Ministry of Social Affairs and Labor carried out a study on the comparison of prices of commodities in Kuwait and other GCC states after discovering the prices of some commodities were raised without any justification, reports Al-Shahed daily.

The sources said the ministry pointed out 200 consumer food products and compared their prices with the neighboring states.

The sources affirmed some companies lobby some blocs which are affiliated to traders to raise the prices of commodities.

The sources pointed out, the ministry in cooperation with the Consumer Protection Department of the Ministry of Commerce and Industry and the NGOs, will put an end to what it called unjustified price hikes which have reached its peak and in Kuwait it shot to 35 percent during 2012.

The sources say the citizens and expatriates will witness a slump in prices if the concerned authorities intervene and put an end to abnormal price rise.

According to the statistics issued by the Central Statistics Department the prices of consumer goods showed a raise of 2.3 percent last November compared to the same period last year, reports Al-Shahed daily.

The department said the rate of inflation in Kuwait increased by 0.3 percent last November compared to October last.

The department said in the foodstuff category there was a rise of four percent in November compared to the same month last year.

Meat, chicken and fish rose by 0.7 percent while tea and coffee saw 0.1 percent rise and fruits and vegetables 0.3 percent while other foodstuffs showed a decline of 0.6 percent.

The data shows the prices of dairy products and eggs were steady.

 






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