(MENAFN- Qatar News Agency) Inflation in the consumer price index (CPI) edged down to 2.6% year-over-year (yoy) in November, from 2.7% in October, the National Bank of Kuwait weekly report stated.
This small move masked some notable changes within the sub-components: another sharp fall in food price inflation was almost offset by a rise in 'core' price pressures, according to Kuwait's (KUNA) News Agency. It is expect that core pressures to continue to edge higher; however, the overall inflation rate is still forecast to average a modest 3.0% through 2014, up from 2.6% in 2013.
The report noted that food price inflation fell to 2.4% yoy from 3.5% in October, its sixth consecutive monthly decline. Given the component's large weight in the CPI (18%), this move subtracted some 0.2% points from the overall inflation rate in November.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.