The annual inflation rate in Kuwait increased to 0.8 percent in May of 2019 from 0.7 percent in the prior month. Prices advanced faster mostly for food & non-alcoholic beverages (1.0 percent vs 0.9 percent in April) and clothing & footwear (0.7 percent vs 0.5 percent) while cost declined less for housing & utilities (-0.5 percent vs -0.6 percent) and miscellaneous goods & services (-0.2 percent vs -0.4 percent). On the other hand, prices went up at a softer pace for furnishing & household equipment (2.1 percent vs 2.2 percent); transport (1.6 percent vs 1.9 percent); recreation & culture (1.8 percent vs 2.0 percent) and health (2.3 percent vs 2.9 percent) while inflation was steady for education (at 1.9 percent). On a monthly basis, consumer prices rose 0.2 percent, after a flat reading in the previous month. Inflation Rate in Kuwait averaged 2.85 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 1.80 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 2.00 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.