Inflation rate in Gulf Arab country records slowest pace in more than a year
Kuwait’s inflation rate eased to 4.2 percent in November, the state news agency KUNA reported, the slowest pace in more than a year.
The inflation rate fell from 4.8 percent in October, KUNA said, citing the Central Statistics Office. That is the lowest since July 2010, according to data compiled by Bloomberg.
Kuwaiti inflation will be between 5 percent and 6 percent this year, central bank governor Sheikh Salem AbdulAziz Al-Sabah said in March.
Inflation in Kuwait, the only Gulf Arab state to have dropped its currency peg to the US dollar, accelerated to a record 11.6 percent in August 2008.
Meanwhile, Bahraini inflation accelerated to 1.3 percent in November from 0.9 percent in the previous month, the kingdom’s Central Informatics Organization said on its website on Sunday.