The International Monetary Fund recently released a research paper focusing on the inflation rates in the Gulf countries from 2019 to 2022. The study examined the factors contributing to the increase in inflation, particularly in Kuwait, which was found to have the lowest fuel prices among the Gulf countries.
The report attributed this rise in inflation to the significant dependence on imports and the surge in consumer spending, which was driven by the upward trend in oil prices during the mentioned period. The report from the Fund highlighted that Kuwait ranked as the least expensive Gulf country and the second least expensive Arab country when it comes to fuel prices.
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