Food Prices Continue To Drive Inflation

According to the latest government figures, inflation in Kuwait rose to a near record 11.35% in June, driven in large part by high food and rent prices. Food prices rose 14.2% year-on-year (y-o-y) in June, while the price of drinks and tobacco rose 24.1% y-o-y, both major jumps from May figures. Kuwait is hardly the only country in the Gulf region dealing with inflation, as high oil prices have continued to feed the economic boom, which, combined with lax fiscal policy, has meant that inflation figures have continued to rise.

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