Increase in prices of imported and local goods in Kuwait
KUWAIT CITY, June 9: Kuwait’s general wholesale price index rose 2.3 percent in 2021 to the level of 141.7 in December 2021, up from 138.6 in December 2020, according to the Central Bureau of Statistics. Prices of imported Goods rose 3.2 percent and prices of local goods rose 0.6 percent, Al-Anba daily reports.
The report, which focused on the price movement between December 2020 and December 2021, showed a 1.4 percent increase in the prices of materials included in the agriculture and fisheries group, reflecting the increase in the prices of crop production and animal production is due to increase by one percent, and prices of imported goods by 0.8 percent and prices of domestic goods by 3.1 percent.
The index of the group “Mines and Quarries” increased by 8.9 percent, as prices of crushed sand and stones rose by 9.5 percent, imported goods by 7 percent and local goods by 11.8 percent.
The index of the “manufacturing” group rose by 2.4 percent over the course of the year. This was due to an increase in the prices of food manufacturing by 0.1 percent, beverage manufacturing by 1.1 percent, clothing manufacturing by 4.2 percent, chemicals and chemical products manufacturing by 0 .8 percent and for the manufacture of base metals by 17.5 percent, imported goods by 3.4 percent and local goods by 0.5 percent.
By classifying the materials by production stage, it was found that the prices of raw materials, intermediate materials and finished materials increased by 1.9 percent, 7.2 percent and 0.9 percent, respectively.
In terms of end use, consumables, investment materials and material prices were found to have increased by 0.9 percent, 0.8 percent and 5.2 percent, respectively.
Comparing the price movement in December 2021 compared to November 2021, the general wholesale price index (base year 2007) increased by 0.3 percent in December 2021. The price index of imported goods increased by 0.4 percent, the price index of locally produced goods by 0.1 percent.
The index of the main group “Agriculture and fisheries” increased by one percent, which is due to a 1.1 percent increase in prices for growing crops and livestock production.
The index of the main group “Mines and quarries” increased by 1.6 percent, which is due to a 1.6 percent increase in the price of crushed sand and stones.
The index of the main group “Manufacturing” increased by 0.3 percent as a result of an increase in prices for the production of food by 0.1 percent, prices for the production of clothing by 1.8 percent, the production of chemicals and chemicals products by 0.4 percent, base metal manufacturing by 1.6 percent and processed metal products by 0.6 percent.
The index of the main group “Imported materials” increased by 0.4 percent due to price increases in agriculture, forestry and fisheries by 1.0 percent, in quarrying by 2.7 percent and in manufacturing by 0.4 percent.
The index of the main group “manufactured materials” rose by 0.4 percent, with a rise in the price index for locally produced goods by 0.1 percent, as a result of a 0.9 percent increase in prices for agriculture, forestry and fisheries.
Manufacturing prices also rose 0.1 percent, while quarry prices remained steady at 167.1.
When categorizing materials by “stage of production”, it was found that the prices of raw materials, intermediate materials and final materials increased by 1.4 percent, 0.8 percent and 0.1 percent, respectively.
By categorizing materials by “end use,” it was found that consumable, capital, and production material prices increased by 0.2 percent, 0.1 percent, and 0.5 percent, respectively.
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