Kuwait - Prices

Deflators: The FAOSTAT Deflators database provides the following selection of implicit price deflator series by country and at regional level: Gross Domestic Product (GDP) deflator, Gross Fixed Capital Formation (GFCF) deflator, Agriculture, Forestry, Fishery Value-Added (VA_AFF) deflator, and Manufacturing Valued-Added (VA_MAN) deflator.A deflator is a figure expressing the change in prices over a period of time for a product or a basket of products by comparing a reference period to a base period. It is obtained by dividing a current price value of a given aggregate by its real counterpart. When calculated from the major national accounting aggregates such as GDP or agriculture value added, implicit price deflators pertains to wider ranges of goods and services in the economy than that represented by any of the individual price indexes (such as CPIs, PPIs). Movements in an implicit price deflator reflect both changes in price and changes in the composition of the aggregate for which the deflator is calculated.In the FAOSTAT Deflators database, all series are derived from the United Nations Statistics Division (UNSD) National Accounts Analysis of Main Aggregates database (UNSD AMA). In particular, the implicit GDP deflator, the implicit GFCF deflator, the implicit value added deflator of Agriculture, Forestry, Fishery and the implicit value added deflator of Manufacturing are obtained by dividing the series in current prices by those in constant 2015 prices (base year).

Producer Prices: This sub-domain contains data on Agriculture Producer Prices and Producer Price Index. Agriculture Producer Prices are prices received by farmers for primary crops, live animals and livestock primary products as collected at the point of initial sale (prices paid at the farm-gate). Annual data are provided from 1991, while mothly data from January 2010 for 180 country and 212 product.Producer Price Index is the index of agricultural producer prices that measures the average annual change over time in the selling prices received by farmers (prices at the farm-gate or at the first point of sale). The three categories of producer price index available in FAOSTAT comprise: single-item price index, commodity group index and the agriculture producer price index.

Exchange rates: Annual exchange rates, Standard Local Currency Units (SLC) per US dollar. Annual and Monthly exchange rates, Local currency Units (LCU) per US dollar.

Consumer Price Indices: The FAOSTAT monthly Food CPI and General CPI database was based on the ILO CPI data until December 2014. In 2014, IMF-ILO-FAO agreed to transfer global CPI data compilation from ILO to IMF. Upon agreement, CPIs for all items and its sub components originates from the International Monetary Fund (IMF), and the UN Statistics Division(UNSD) for countries not covered by the IMF. However, due to a limited time coverage from IMF and UNSD for a number of countries, the Organisation for Economic Co-operation and Development (OECD), Central Bank of Western African States (BCEAO), Eastern Caribbean Central Bank (ECCB), UNdata, United Nations Conference on Trade and Development (UNCTAD) and national statistical office website data are used for missing historical data from IMF and UNSD food CPI. The FAO CPI dataset for all items(or general CPI) and the Food CPI, consists of a complete and consistent set of time series from January 2000 onwards. Data gaps on monthly Food CPI and General CPI are filled using statistical estimation procedures to have full data coverage for all countries for Food CPI and for General CPI. These indices measure the price change between the current and reference periods of the average basket of goods and services purchased by households. The CPI,all items is typically used to measure and monitor inflation, set monetary policy targets, index social benefits such as pensions and unemployment benefits, and to escalate thresholds and credits in the income tax systems and wages in public and private wage contracts. The FAOSTAT monthly Food CPI inflation rates are annual year-over-year inflation or percentage change over corresponding month of the previous year. The FAOSTAT regional Food CPI and CPI of General are weighted average of Food CPI and General CPI of countries in each region using the weights of HouseHold Final Consumption Expenditure in USD in 2015 from UNSD.

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