Annual inflation rate in Kuwait edged down to 0.2 percent in October of 2018 from 0.3 percent in the previous month. It was the lowest inflation rate since a flat reading in November of 2003. Cost slowed for food & beverages (0.3 pct from 0.4 pct in September); miscellaneous goods & services (0.7 pct from 1.7 pct); recreation & culture (2.3 pct from 2.9 pct); communication (4.2 pct from 4.5 pct) and health (2.1 pct from 2.2 pct); while prices fell further for clothing & footwear (-1.6 pct from -1.4 pct). Inflation was steady for transport (at 1.1 pct); education (at 1.0 pct); furniture & household equipment (at 2.2 pct); restaurants & hotels (at 0.8 pct) and tobacco & narcotics (at 13.5 pct). Meantime, housing prices fell at a softer pace (-1.4 pct from -1.5 pct). On a monthly basis, consumer prices went up 0.2 percent, after a 0.1 percent fall in September. Inflation Rate in Kuwait averaged 2.91 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 1.30 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.