KUWAIT: The Consumer Prices Index (CPI) recorded a hike of 3.08 percent last March, compared to the same month last year, a recent statistical report shows. The index figure for the month of March 2016 recorded an increase at 140.7, by 0.72 percent as a result of the rise in prices of some major groups of influential figures in the movement and low standard of some groups, said the report released by the Central Statistical Bureau. The figure showed stability in three main influential groups, and a drop in another four groups, while it recorded a hike in five others, it said.
The index for the first main group ‘food and beverages’ went up by 4.14 percent last March, compared to the same month of 2015, on a monthly basis of 0.45 percent. The price of six commodities within the same group fell on a monthly basis, as it witnessed a rise in two groups and stability in two groups, according to the report.
The figure of the second main group ‘tobacco and narcotics’ was stable in March, on a monthly basis, but went up on an annual basis of 1.13 percent. The report showed a dip in the figure of the third group ‘clothing and footwear’ by 0.62 percent on an annual basis, and a drop on an annual basis of 0.08 percent.
Inflation of the fourth group ‘housing services’ shot up by 6.25 percent last March by 6.25 percent on an annual basis, and that of the fifth group ‘furnishing equipment and household maintenance’ hiked by 2.89 percent on an annual basis.
The sixth group ‘health’ rose by 11.27 percent in March on an annual basis, and 0.31 percent on a monthly basis. The seventh group ‘transport’ fell on an annual basis of 1.44 percent, while the eighth group ‘communication’ went up on an annual basis of 0.79 percent.
The ninth group ‘recreation and culture’ went down on an annual basis of 1.15 percent, but the 10th group went up on an annual basis of 3.48 percent. The 11th group ‘restaurants and hotels’ edged up on an annual basis of 2.36 percent, and the last group ‘miscellaneous goods and service’ witnessed an annual hike of 0.69 percent.
This monthly report issued by the Central Statistical Bureau gives indications of the rates of changes in prices for the commodity groups influencing the families’ expenditure and the ability of consumer spending. This index uses the year 2007 as the base year. – KUNA