Kuwait's Central Statistical Bureau has reported that the inflation rate in 2018 registered the lowest level recorded since more than 25 years, not exceeding 1 percent, due to the recession in the real estate sector.
According to the Department of Statistics, the reasons for the decline in inflation last year to this record level is due to the real estate recession, which contributed to the termination of the services of a large number of arrivals in ministries and government institutions. Indicating that the control imposed by the Ministry of Commerce and other concerned parties helped to keep prices of consumer goods at constant levels, which in turn led to non-inflation rates of the main components of inflation indices in Kuwait. It is expected that these rates will change this year and next, as a result of the decisions being considered by the Kuwaiti government at present to increase the fee of a number of public services to the expatriates, which will cause, according to observers, a wave of successive rises in prices of basic materials in the country.
Source (Al-Araby Al-Jadeed Website, Edited)
