Inflation rose to 3.3% in January from 3.2% in December. Relatively low price pressures persisted thanks to the FX peg and subsidies. Meanwhile, the Central Bank hiked the discount rate to 4.00% in late January to support the currency peg. Inflation should recede later in 2023 due to tighter monetary policy at home and abroad.
Kuwait Money (ann. var. of M2 %) Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Money (ann. var. of M2 %) | 3.8 | 4.0 | -1.3 | 2.7 | -7.4 |