Kuwait inflation hits 15-year high

Article Here.

KUWAIT (AFP) — Inflation in oil-rich Kuwait hit 7.3 percent in the first nine months of 2007, the highest figure for 15 years, the state KUNA news agency reported, citing official statistics.

The figures said the overall inflation came from price rises in products and services, notably housing (12.5 percent), education and health (12.3), drinks and tobacco (9.6), transport (7.3), clothing (5.1), food products (4.8) and other products and services (2.5).


That means, if you where earning 1000 KD last year, you are actually earning this year the equivalent of 927 KD because of the 7.3 % inflation.

If you are a family guy or gal and need to treat your kids, send them to school, and buy a house, your 1000 KD income is really worth 807 KD this year if the majority of your spending is on housing, education and health for your family.

1 comment:

  1. This is crazy. I think business owners are proactive to POSSIBLE salary increase that public keep asking for. I always tell them, what's more 50 KD gotta do for you? Here is the answer, bring you lower.

    If you don't multiply your streams of income in this country, you are doomed!