KUWAIT: The Consumer Prices Index (CPI), or inflation rate, recorded an increase estimated at 2.85 percent in April 2016, compared to April 2015, showed an official economic report yesterday. The index figure during the month of April 2016 recorded a fall of 140.6 by 0.07 percent as a result of the fall in prices of some major groups with influential figures in the movement and rise in prices of some groups, said the monthly report of the Central Statistical Bureau (CSB).
The report gives indications of the rates of changes in prices for the commodity groups influencing the families’ expenditure and the ability of consumer spending. This index uses the year 2007 as the base year.
The index figure for the main group of food and beverages rose by 2.62 percent in April, compared to April 2015, but it fell by 0.46 percent on an annual basis. The prices of subgroups of the first main group dipped on a monthly basis, while those of three groups were high.
The second main group (tobacco and narcotics) stood in April on a monthly basis, but hiked 0.99 percent on an annual basis, it said.
The index figure of the third group (clothing and footwear) went up 0.39 percent on an annual basis, while it dropped 0.08 percent on a monthly basis. Inflation in the fourth group (housing services) shot up by 6.25 percent on an annual basis, as that of the fifth group (furnishing equipment and household maintenance) surged by 2.95 percent on an annual basis, the report added.
The sixth group (health) saw a 1.25 percent rise in the inflation rate in April on an annual basis, and a 0.08 percent dip on an annual basis, while the seventh group (transport) went down 1.44 percent on a yearly basis, it indicated. The eighth group (communication) edged up 0.59 percent on a yearly basis, as the ninth group (recreation and culture) plummeted 0.39 percent on a yearly basis.
The tenth group (education) hiked by 3.48 percent in April on an annual basis. The 11th group (restaurants and hotels) went up by 2.36 percent on a yearly basis, while the last group (miscellaneous goods and services) saw an annual rise of 0.84 percent, the report concluded.
