Iraqi Dinar Discussion Board

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Kuwaiti Food Inflation Almost Doubled in October From September

By Matthew Brown

Feb. 16 (Bloomberg) -- Kuwaiti food prices increased an annual 6.1 percent in October, almost double the 3.7 percent they rose in September, sending consumer price inflation to a record.

Housing costs rose an annual 13 percent in October, the same as the previous month, according to a faxed statement from the Kuwaiti government.

Inflation in Kuwait accelerated to 7.3 percent in October from 6.2 percent in September, a government official said Feb. 14 under condition of anonymity.

Prices have risen in Kuwait even after the nation dropped the dinar's peg to the dollar in May in a bid to reduce the cost of imports from Europe, which became more expensive after the dollar weakened against the euro.