Central Statistical Office data showed high indices of consumer prices «inflation» in Kuwait at a rate of 3.33 percent in March compared to the same month of 2014 on an annual basis.
The department said in its monthly statistical analysis of indices of consumer prices for the month of March that the rate of inflation in Kuwait rose in March from the level recorded in February on a monthly basis by 0.74 percent.
It added that the monthly index of consumer prices last March saw a rise in the seven major collections affecting the movement of indices, a decrease in four and stabilization in one group which is communication.
It explained that it distributes materials, services and goods most consumed by individuals and families on 12 core groups according to the Classification of Individual Consumption according to the recommendations of the Statistical Office of the United Nations.
It reported that the index of the first major group «Food and Beverage» rose in last March with 1.72 percent compared with the same month of 2014 at the time of the group rose by 0.14 percent on a monthly basis compared to last February.
It showed that the six sub-groups within the group «Food and Beverage» its standard prices rose on a monthly basis compared to last February, while three groups experienced a decrease in their prices and one group is stable.
It pointed to the rise in the index of consumer price for the second major group «cigarettes and tobacco» last March by 11.87 percent on an annual basis and this figure rose by about 0.13 percent on a monthly basis.
Management indicated that the index of third main group «clothing and footwear» fell by 0.31 percent on an annual basis and fell 0.08 percent on a monthly basis, while inflation rose in the fourth main group «home furnishings and maintenance equipment » by 3.95 percent on an annual basis and rose by 0.42 percent from the levels recorded in last February.
It reported that the inflation in main fifth group «Health» rose in March by 2.07 percent on an annual basis and the index rose for the sixth group «Transportation» by 0.81 percent on an annual basis.
It added that inflation in the seventh main group «Telecommunication» rose in last March on annual basis by 0.10 percent and settled on a monthly basis at a time when the inflation rate rose for the eighth major group «recreational and cultural» on an annual basis by 0.93 percent.
It pointed to the rise in inflation in the main ninth group «Education» on an annual basis by 5.23 percent also inflation rose in the main group of the tenth group «restaurants and hotels» on an annual basis by about 5.12 percent.
Statistical Department showed in its report that the index for the eleventh group «miscellaneous goods and services» rose on an annual basis by 2.59 percent, also rose on a monthly basis by 0.15 percent, while the last group «housing services» saw an annual increase of 6.35 percent.
The index of consumer prices is considered a tool to measure the changing price levels generally between the two periods either monthly or yearly and is usually a key indicator to measure inflation or deflation, as the state can compare through it atmaking economic and business decisions and formulating monetary and fiscal policies.
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