The annual inflation rate in Kuwait edged down to 1.5 percent in December of 2019 from 1.6 percent in the prior month. Prices slowed for food and non-alcoholic beverages (1.8 percent vs 2.0 percent in November); transport (3.9 percent vs 4.4 percent); education (2.9 percent vs 3.9 percent) and recreation & culture (3.2 percent vs 3.9 percent) while housing cost continued to fall (-0.9 percent, the same pace as in November). On the other hand, inflation was steady for clothing & footwear (at 2.3 percent) and health (at 2.8 percent) while prices advanced faster for miscellaneous goods & services (2.6 percent vs 2.4 percent) and communication (4.5 percent vs 4.2 percent). On a monthly basis, consumer prices rose 0.2 percent, after a flat reading in November.
Inflation Rate in Kuwait averaged 2.81 percent from 1995 until 2019, reaching an all time high of 11.70 percent in August of 2008 and a record low of -1.15 percent in April of 1998. This page provides the latest reported value for - Kuwait Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
Inflation Rate in Kuwait is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Kuwait to stand at 3.00 in 12 months time. In the long-term, the Kuwait Inflation Rate is projected to trend around 3.00 percent in 2021 and 3.50 percent in 2022, according to our econometric models.