Kuwait’s September inflation slows to 2.3%

07 Apr 2010

(MENAFN) The Kuwaiti statistics office said in a statement that the country’s annual inflation eased to a three-year low of 2.3 percent year-on-year in September 2009, helped by a fall in transport prices, Reuters reported.

On the month, consumer prices rose by 0.3 percent in September, after a 0.1 percent decline in the previous month. The office delayed inflation data releases last year.

House prices, which account for 27 percent of the goods basket that measures inflation, held steady month-on-month in September for the sixth month.

Food prices rose 2.6 percent month-on-month following a 1.0 percent fall in August, while transport prices decreased 0.9 percent, falling for the third month in a row.

Kuwait’s central bank governor said last month inflation in Gulf Arab countries has dropped substantially but has not disappeared completely.

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