Arab Today, arab today kuwaitinflation at 10mth lows
Last Updated : GMT 22:44:04
Arab Today, arab today
Arab Today, arab today

Kuwait : Inflation at 10-mth lows

Arab Today, arab today

Arab Today, arab today Kuwait : Inflation at 10-mth lows

Kuwait - Arabstoday

Kuwait's annual inflation slowed to a ten-month low of 5 percent in June helped by a fall in food prices, data showed yesterday, but generous government spending is expected to keep levels above those of neighbors this year. Inflation in the world's fourth-largest oil exporter has been hovering above 5 percent since the beginning of this year, well below double-digit levels seen in 2008. It stood at 5.4 percent year-on-year in May, after climbing to a nearly two-year peak of 6 percent in December. On a monthly basis, consumer prices in the OPEC member grew 0.2 percent in June, according to data from the Central Statistics office. That was below a 0.3 percent rise in May. Inflation in the Gulf, the world's top oil exporting region, is expected to creep higher this year on robust global commodity prices, a weak dollar and increased government spending following popular unrest in the Arab world. But slow lending growth and ongoing weakness in the property sector in parts of the region are seen keeping consumer price growth well below the record peaks seen in most Gulf states in 2008, despite oil prices above $90 per barrel. In Kuwait, food costs - which account for 18 percent of the consumer basket - fell for the first time in four months, by 0.6 percent month-on-month, the data showed. "Kuwait has one of the highest inflation rates in the GCC for the year. But it's still not anywhere near of what we saw three years ago," said Nancy Fahim, Standard Chartered economist in Dubai. "One of the big drivers of inflation this year is government spending and their cash packages that they have provided their citizens, which should be driving overall headline inflation. Last month, Kuwait's parliament approved a 19.4 billion dinar ($71 billion) state budget for the 2011/12 fiscal year, the biggest since at least 2003. Kuwait announced in January plans to spend nearly $5 billion, or more than 4 percent of its GDP, on cash grants and free food rations. Transport prices, which makes up 16 percent of the CPI basket, increased by 1 percent month-on-month in June after remaining unchanged for three consecutive months, the data showed. Analysts polled by Reuters in June expect a verage inflation of 5.1 percent in 2011.

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 kuwaitinflation at 10mth lows Arab Today, arab today kuwaitinflation at 10mth lows

 



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 kuwaitinflation at 10mth lows Arab Today, arab today kuwaitinflation at 10mth lows

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
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 Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
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 Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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