Kuwait's inflation falls to 5.9 per cent

12 July 2009

Inflation in Kuwait fell to 5.9 per cent in February from 6.8 per cent in January, according to official data.

Consumer price inflation fell by 0.3 per cent between January and February, after dropping 0.2 per cent between December 2008 and January 2009.

The governor of the Central Bank of Kuwait attributed the fall in the inflation rate to declines in the price of foodstuffs. He added that food, housing and household services make up 59.8 per cent of the consumer price index basket, and remain the main drivers of inflation.

In 2008 Kuwait’s annual inflation rate was 10.6 per cent after peaking at 11.6 per cent in August.

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