Kuwait's annual inflation remained unchanged for the third straight month at 1.9% in May of 2020, its highest level in three years. Main upward pressure came from prices of transport (3.7% vs 3.6% in April); services & miscellaneous goods (5.4% vs 4.7%); tobacco & narcotics (3.3% vs 3.1%); recreation & culture (3.3% vs 3.2%); health (2.3% vs 1.9%) and food & beverages (1.9% vs 1.3%). On the other hand, costs continued to fall for housing (-0.3% vs -0.2%). On a monthly basis, consumer prices inched up 0.26%, following a 0.1% increase in the previous month.
Inflation Rate in Kuwait averaged 2.80 percent from 1995 until 2020, 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. This page provides the latest reported value for - Kuwait Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Kuwait Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
Inflation Rate in Kuwait is expected to be 2.50 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 1.70 in 12 months time. In the long-term, the Kuwait Inflation Rate is projected to trend around 2.00 percent in 2021 and 2.50 percent in 2022, according to our econometric models.