Inflation Kuwait 2023
Average inflation: 3.6%
Current Inflation
Inflation is high at 3.6%, well above the ECB target.
Peak and Trough
The highest inflation was in June at 3.8%. The lowest inflation was in February at 3.2%.
- Highest month
- June: 3.8%
- Lowest month
- February: 3.2%
- Difference
- 0.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 6.4%. The lowest price increase was in Energy with an average of 2.6%.
- Highest increase
- Food: 6.4%
- Lowest increase
- Energy: 2.6%
Historical Context
Current inflation is 0.8% higher than the 5-year average of 2.8%.
- 5-year average
- 2.8%
- 10-year average
- 2.6%
- All-time high (2011)
- 4.8%
- All-time low (2018)
- 0.5%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-0.4 percentage point).
- Change vs. previous year
- -0.4 percentage points
- Largest monthly swing
- February: -1.2 percentage points
ECB Target
Inflation is 1.6% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 3.3% | -1.0 |
| February | 3.2% | -1.2 |
| March | 3.7% | -0.7 |
| April | 3.7% | -1.0 |
| May | 3.7% | -0.8 |
| June | 3.8% | -0.6 |
| July | 3.7% | -0.5 |
| August | 3.8% | -0.3 |
| September | 3.7% | +0.5 |
| October | 3.8% | +0.5 |
| November | 3.8% | +0.6 |
| December | 3.4% | +0.2 |
| Average | 3.6% |
Data source
Data from WorldBank. Last updated: 06/01/2026.