Kamco Invest: 7.5% inflation of food and beverage prices in Kuwait

  • 16/05/2023

Kuwait City: A report issued by Kamco Invest Company on inflation developments in the Gulf countries for the month of March 2023 said that the inflation rate remained relatively low in the GCC countries, despite the average increase over the 2022 estimates, according to the Economic Outlook report. 

The decline in inflation rates in the Gulf countries is mainly attributed to some factors that include government intervention, including setting price ceilings for some products, subsidizing key products or facilities, and the rise in the US dollar. The food and beverage component of the consumer price index in Kuwait recorded a growth of 7.5% on an annual basis in March 2023, which is the highest in the GCC countries.

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