Kuwait’s Wholesale Price Index Grows 2.1% Year-on-Year in June 2024

Kuwait, 28 August, 2024 : Kuwait’s general wholesale price index increased by 2.1% year-on-year by the end of June 2024, reaching 149.2 points, up from 146.2 points in June 2023, according to the Central Administration of Statistics.

Key trends include a 2.3% rise in the index for imported goods and a 1.6% increase for local goods. The agriculture and fishing sector saw a significant 4.4% rise, driven by higher prices in crop cultivation, animal production, and local goods. However, the index for mines and quarries decreased by 1%, due to a drop in prices for sand, crushed concrete, and local goods, despite a rise in imported goods.

In the manufacturing sector, the index rose by 2%, with notable increases in food products (1.8%), textiles (8%), chemical materials (2.1%), and electronics (5.3%). Prices also increased across production stages: raw materials up by 5.5%, intermediate materials by 0.6%, and final materials by 2.4%. This data reflects ongoing inflationary pressures influenced by both local and international economic factors.

Source : www.zawya.com