cpi inflation at 29 slight upward pressures in kuwaiti
Last Updated : GMT 06:54:06
Arab Today, arab today
Arab Today, arab today

CPI inflation at 2.9% slight upward pressures in Kuwaiti

Arab Today, arab today

Arab Today, arab today CPI inflation at 2.9% slight upward pressures in Kuwaiti

Consumer Price Index (CPI)
Kuwait - KUNA

Inflation in the consumer price index (CPI) rose from 2.7 percent year-on-year in April, to 2.9 percent y/y in May, a National Bank of Kuwait (NBK) report said Wednesday.
In its July 2014 economic update, NBK said the slight rise in inflation was mostly driven by core inflation (excluding food), which also climbed from 2.7 percent y/y in April to 2.9 percent y/y in May, making it currently on par with the overall inflation rate.
The rise in core inflation primarily stemmed from y/y rises in clothing and footwear prices and furnishing and household maintenance costs.
Core pressures are expected to remain firm (in the housing sector and its related components in particular) and food prices could start to climb. However, upward pressure on the overall inflation rate should be contained and the overall inflation rate to an average of three percent y/y in 2014 is expected, noted the update.
Food price inflation remained largely unchanged, slowing marginally from 2.9 percent y/y in April to 2.8 percent y/y. "Food price inflation appears to be bottoming out and we could see prices rising in the short-term, in-line with higher international food prices," said the report.
Inflation in the biggest component of the CPI - housing rents - was steady at 4.6 percent y/y, unchanged from April.
This was widely expected, as the housing component is only updated once every three months. Inflation in housing rents is projected to pick up next month amid rising activity levels in the sector.
Pressures in the three other major components of the CPI - clothing, furnishings and 'other goods and services' resumed their upward trajectory in May.
Clothing and footwear prices climbed from 2.9 percent y/y in April to 3.1 percent y/y in May, presumably on the back of higher demand in the run up to the summer season and Ramadan. The furnishings and household maintenance component may be seeing the spillover effects from the recent rise in housing services costs. Inflation in the furnishings component rose from 4.9 percent y/y in April to 5.2 percent y/y in May. The 'other' component, which although remains in decline, is showing signs of a turnaround.
Headline inflation is expected to average at three percent in 2014, amid firm pressures from the housing sector. "In the near term we may see upward pressures from the food component for some time, given the recent trend in international food prices. Housing inflation is set to remain firm for the medium term, which may continue to put some upward pressure on the furnishing component, given its rather strong link with housing inflation," concluded the update.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cpi inflation at 29 slight upward pressures in kuwaiti cpi inflation at 29 slight upward pressures in kuwaiti

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cpi inflation at 29 slight upward pressures in kuwaiti cpi inflation at 29 slight upward pressures in kuwaiti

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday