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Kuwait Inflation May 2024

Kuwait: Inflation holds steady in May

Inflation came in at 3.2% in May, matching April’s result. The reading was well below the average for the Middle East and North Africa, but above the average for Gulf Cooperation Council (GCC) members. Looking at the details of the release, prices for food increased at a quicker pace in May. In contrast, prices for clothing increased at a slower pace. Meanwhile, housing price pressures were steady from the previous month.

Annual average inflation remained at April’s 3.5% in May.

Lastly, consumer prices rose 0.15% over the previous month in May, coming in below the 0.30% rise seen in April. May’s result marked the weakest reading since July 2023.

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