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Kuwait inflation around 10% in March, says Finance Minister

Kuwait inflation stayed "around 10 percent'' in March, the country's Finance Minister Mustafa Al Shimali said.

  • Bloomberg
  • Published: 17:09 June 19, 2008
  • Gulf News

Kuwait City: Kuwait inflation stayed "around 10 percent'' in March, the country's Finance Minister Mustafa Al Shimali said.

Kuwait, which holds 8.2 percent of the world's oil reserves, is the only Gulf Arab state to have dropped its currency's peg to the dollar, giving it some control over monetary policy.

The other five Gulf Cooperation Council states have retained the pegs, claiming that inflation has been stoked by housing shortages and global food prices, not monetary policy.

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