A view of Kuwait City's modern highrises. M2, an indicator of future inflation, rose in February. Image Credit: Reuters

Kuwait: Kuwait's M2 money supply growth decelerated to 6.7 per cent year-on-year at the end of February, from 10.3 per cent in the previous month, data showed Sunday.

M2, an indicator of future inflation, rose to 25.6 billion dinars (Dh325.83 billion) in February, compared with 24 billion a year earlier, the central bank said in a monthly bulletin.

The central bank did not release data for M3, which also includes deposits at financial institutions and is the broadest measure of money circulating in the economy.

Narrow money, or M1, rose 6.0 per cent to 5.1 billion dinars.

Quasi money which includes savings and time deposits in dinars, as well as foreign currency deposits rose 6.9 per cent to 20.5 billion dinars, the data showed.