Arab Today, arab today kuwait inflation drops to 26
Last Updated : GMT 19:57:12
Arab Today, arab today
Arab Today, arab today

Kuwait inflation drops to 2.6%

Arab Today, arab today

Arab Today, arab today Kuwait inflation drops to 2.6%

Kuwait - KUNA

Inflation in the consumer price index (CPI) edged down to 2.6% year-over-year (yoy) in November, from 2.7% in October, the National Bank of Kuwait weekely report stated Saturday. This small move masked some notable changes within the sub-components: another sharp fall in food price inflation was almost offset by a rise in 'core' price pressures. It is expect that core pressures to continue to edge higher; however, the overall inflation rate is still forecast to average a modest 3.0% through 2014, up from 2.6% in 2013. The report noted that food price inflation fell to 2.4% yoy from 3.5% in October, its sixth consecutive monthly decline. Given the component's large weight in the CPI (18%), this move subtracted some 0.2% points from the overall inflation rate in November. Food price inflation has fallen from a peak of 6.3% yoy in May, more than accounting for the deceleration in inflation overall over the period. Though driven by softer international food prices, the decline in CPI food price inflation has been sharper than the historical relationship would suggest. On the other side, 'core' inflation (i.e. excluding food) rose to 2.7% o/y from 2.5% in October, but the underlying picture was also mixed. The figure was heavily affected by a sharp rise in inflation in the clothing and footwear segment, which jumped to 1.4% yoy from -0.8% in October. Excluding this, 'core' inflation would have been unchanged. The increase was driven by a combination of a strong year-on-year base effect, and a sizeable 0.7% month-to-month rise in November 2013. Still, clothing inflation was very weak through 2013, and remains well below its average of 5% yoy or so of previous years. The inflationary impact on the 'core' segment, however, was partially mitigated by an intensification of deflation in the 'other goods and services' component, to -1.7% yoy from -0.5% in October. The turnaround in inflation in this category has been precipitous: it stood at +6.3% yoy in November 2012. The decline - and ultimate reversal - of price pressures in the segment has been driven largely by a base effect generated by the price of jewelry. Jewelry prices (mostly gold) surged in mid-2012, but those increases have since fallen out of the annual comparison. Prices have indeed edged lower. Elsewhere, inflation in the housing services component (largely rents) remained relatively high, at 4.7% yoy. They have picked up considerably over the past year, rising from a low of 1.0% yoy in November 2012. Price changes in this segment are only surveyed once every three months, and the next change is due in the December data. December 2012 saw a sharp 3. 2% month-to-month jump, so a more modest increase this time around would see the yoy rate fall quite sharply. Given the housing component's large weighting in the CPI, this could provide the context for a meaningful near-term decline in the overall headline inflation rate. It is expected that inflation would edge higher through 2014 and perhaps crossing the 3.0% yoy mark around mid-year, as some of the factors - such as soft food prices and other base effects - that have been keeping inflation low start to unwind. Nevertheless, with economic growth still moderate and regional price pressures muted, inflation is unlikely to rise too far over the medium-term.

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*

Arab Today, arab today kuwait inflation drops to 26 Arab Today, arab today kuwait inflation drops to 26

 



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*

Arab Today, arab today kuwait inflation drops to 26 Arab Today, arab today kuwait inflation drops to 26

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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