Kuwait' annual inflation rate came in at 1.2 percent in August of 2019, unchanged from the previous month. Prices advanced faster for food & beverages (1.1 percent vs 1.0 percent in July); furniture & household equipment (2.6 percent vs 1.9 percent); miscellaneous goods & services (1.4 percent vs 0.6 percent); communication (4.9 percent vs 4.8 percent) and health (2.5 percent vs 2.2 percent). Meantime, inflation was steady for clothing & footwear (at 1.7 percent); education (at 2.4 percent) and restaurants & hotels (at 1.3 percent). On the other hand, housing cost declined (0.8 percent, the same as in July) while prices went up at a softer pace for transport (4.4 percent vs 4.7 percent) and recreation & culture (3.5 percent vs 3.9 percent). On a monthly basis, consumer prices rose 0.2 percent, after increasing 0.3 percent in the prior month. Inflation Rate in Kuwait averaged 2.83 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.
Inflation Rate in Kuwait is expected to be 2.00 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 2.50 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.