Annual inflation rate in Kuwait eased to 0.1 percent in November of 2018 from 0.2 percent in the previous month. It was the lowest inflation rate since a flat reading in November of 2003, as inflation slowed for miscellaneous goods & services (0.4 pct from 0.7 pct in October); recreation & culture (1.7 pct from 2.3 pct). Prices dropped for food & beverages (-0.4 pct from 0.3 pct) while prices fell further for clothing & footwear (-1.3 pct from -1.6 pct), and housing (-1.4 pct from -1.4 pct). Inflation was steady for transport (at 1 pct); education (at 1 pct); health (at 2.1 pct); restaurants & hotels (at 0.8 pct), and tobacco & narcotics (at 13.5 pct). On the other hand, prices rose faster for both communication (4.7 pct from 4.2 pct) and furniture & household equipment (2.3 pct from 2.2 pct). On a monthly basis, consumer prices edged down 0.1 percent, after a 0.2 percent rise in October. Inflation Rate in Kuwait averaged 2.90 percent from 1995 until 2018, 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.
Inflation Rate in Kuwait is expected to be 0.80 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 3.60 in 12 months time. In the long-term, the Kuwait Inflation Rate is projected to trend around 3.50 percent in 2020, according to our econometric models.