KUWAIT HAS SECOND HIGHEST INFLATION RATE IN GULF

  • 30/10/2021

Kuwait City: Inflation in Kuwait has been rising sharply for more than two years. Kuwait has the second-highest inflation rate in the Gulf, according to the MUFG report. Inflation continues to rise after hitting a record low at the end of 2018, the report said. Inflation in Kuwait has risen to 3 per cent year-on-year on the back of rising inflation.


MP Abdul Aziz Al Saqaibi has questioned in parliament the rate of inflation in Kuwait and the reasons for its rise. According to the International Monetary Fund (IMF), high inflation in Kuwait in 2021 has led to an increase in the cost of travel-related services and a significant increase in food prices. Inflation is expected to touch 3.2 per cent by the end of this year. Qatar ranks second in the Gulf in terms of inflation. It is followed by Oman, UAE and Bahrain.

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