Inflation rate up 4.5% in September 2011, says report

31/10/2011 00:00 AST

Kuwait's inflation rate edged up to 4.5 percent in September this year, compared to the same month of 2010, whereas it increased 1.1 percent compared to August of 2011, a specialized report cited Sunday.

The Central Statistical Office's report, issued earlier today, said that the monthly consumers' price index for September 2011 showed a rise of 150 points, compared to the recorded 148.4 points in August 2011 and 143.5 points in September of 2010.

In September 2001, food index hiked 9.2 percent, clothing and footwear index rose three, it added.

Also in the same month, educational and healthcare services' index increased 3.3 percent, household goods and services hiked 4.4 percent, transport and communications surged 3.1 percent and other services index went up three percent, yet beverages and tobacco index fell 0.7 percent.

Meanwhile, the report showed that inflation rates for the period of September of 2011 with August of the same year saw the food index increasing by 2.2 percent, clothing and footwear by 1.2 percent, household goods and other services by 0.7 percent, educational and healthcare services by 1.2 percent, transport and communications by 0.9 percent and beverages and tobacco by 1.2 percent.

Analysts have been predicting prices in the world's number six crude oil exporter will rise substantially this year on the back of higher global food and commodity costs, as well as the government's social spending.

Kuwait's economy is expected to grow by 4.7 percent this year and at the same rate next year, helped by robust crude prices and increased government spending, after an estimated two percent expansion in 2010, according to a Reuters analyst poll.

Agencies