Kuwait - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Kuwait was 133.69 as of 2021. As the graph below shows, over the past 49 years this indicator reached a maximum value of 133.69 in 2021 and a minimum value of 20.06 in 1972.

Definition: Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1972 20.06
1973 21.72
1974 24.54
1975 26.60
1976 27.99
1977 30.76
1978 33.44
1979 35.79
1980 38.27
1981 41.09
1982 44.29
1983 46.38
1984 46.93
1985 47.63
1986 48.08
1987 48.39
1988 49.11
1989 50.75
1990 55.74
1991 60.79
1992 60.45
1993 60.68
1994 62.22
1995 63.89
1996 66.17
1997 66.62
1998 66.70
1999 68.70
2000 69.94
2001 70.85
2002 71.48
2003 72.17
2004 73.07
2005 76.10
2006 78.42
2007 82.73
2008 91.48
2009 95.70
2010 100.00
2011 104.84
2012 108.25
2013 111.16
2014 114.39
2015 118.13
2016 121.91
2017 124.56
2018 125.23
2019 126.60
2020 129.26
2021 133.69

Development Relevance: A general and continuing increase in an economy’s price level is called inflation. The increase in the average prices of goods and services in the economy should be distinguished from a change in the relative prices of individual goods and services. Generally accompanying an overall increase in the price level is a change in the structure of relative prices, but it is only the average increase, not the relative price changes, that constitutes inflation. A commonly used measure of inflation is the consumer price index, which measures the prices of a representative basket of goods and services purchased by a typical household. The consumer price index is usually calculated on the basis of periodic surveys of consumer prices. Other price indices are derived implicitly from indexes of current and constant price series.

Limitations and Exceptions: Consumer price indexes should be interpreted with caution. The definition of a household, the basket of goods, and the geographic (urban or rural) and income group coverage of consumer price surveys can vary widely by country. In addition, weights are derived from household expenditure surveys, which, for budgetary reasons, tend to be conducted infrequently in developing countries, impairing comparability over time. Although useful for measuring consumer price inflation within a country, consumer price indexes are of less value in comparing countries.

Statistical Concept and Methodology: Consumer price indexes are constructed explicitly, using surveys of the cost of a defined basket of consumer goods and services.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices