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Qatar's inflation, based on consumer price index (CPI), rose 3.11% in July 2023 on an annualised basis, mainly due to communication, entertainment, housing and education sectors, according to official data.
The country's CPI inflation was higher by 0.37% month-on-month this July, according to the figures released by the Planning and Statistics Authority (PSA).
The International Monetary Fund forecasts that inflation in Qatar would average 2.1% in 2023-27. The country's CPI inflation is expected to average to 3% this year, which is below 9.9% projected in the Arab world and 3.3% in the Gulf Co-operation Council region, according to Kamco Invest.
Qatar's core inflation (excluding housing and utilities) rose 2.77% and 0.62% year-on-year and month-on-month respectively during the review period.
Communication, which carries a 5.2% weight, saw its group index surge 15.85% and 1.3% year-on-year and month-on-month respectively in July 2023.
The index of recreation and culture, which has an 11.1% weight in the CPI basket, zoomed 6.84% and 3.52% on yearly and monthly basis respectively in July this year.
The index of housing, water, electricity and other fuels – with a weight of 21.2% in the CPI basket – increased 4.49% year-on-year but fell 0.7% month-on-month in July 2023.
The education sector, which has 5.8% in the CPI basket, saw its index surge 4.06 on a yearly basis this July, even as it was unchanged from the previous month.
The index of transport, which has a 14.6% weight, was seen gaining 2.53% and 0.96% on yearly and monthly basis respectively in July 2023.
The sector has the direct linkage to the dismantling of the administered prices in petrol and diesel as part of the government measures to lower the subsidies.
The price of petrol (super) and diesel remained flat on an annualised basis but that of premium rose 2.63% in July 2023. On a monthly basis, the prices of super, premium and diesel were unchanged.
The index of furniture and household equipment, which has 7.9% weight in the CPI basket, was seen shooting up 2.13% year-on-year but was down 0.13% month-on-month in July 2023.
Food and beverages group, which carry 13.5% weight in the CPI basket, became costlier by 1.54% and 1.63% on a yearly and monthly basis respectively in July 2023.
The index of health, which has a 2.7% weight, was up 0.33% on a yearly basis, while it shrank 1.28% month-on-month in July 2023.
However, the restaurants and hotels group, with a 6.6% weight, saw its index plunge 4.65% and 3.49% on a yearly and monthly basis respectively in July 2023, reflecting the lower demand in view of the summer holidays.
The index of clothing and footwear, which has a 5.6% weight in the CPI basket, fell 0.31% year-on-year but rose 0.17% on a monthly basis in the review period.
The index of miscellaneous goods and services, with a 5.7% weight, slid 0.08% and 1.64% year-on-year and month-on-month respectively this July.
The tobacco index, which has a 0.3% weight, was unchanged on yearly and monthly basis in the review period.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).The country's CPI inflation was higher by 0.37% month-on-month this July, according to the figures released by the Planning and Statistics Authority (PSA).
The International Monetary Fund forecasts that inflation in Qatar would average 2.1% in 2023-27. The country's CPI inflation is expected to average to 3% this year, which is below 9.9% projected in the Arab world and 3.3% in the Gulf Co-operation Council region, according to Kamco Invest.
Qatar's core inflation (excluding housing and utilities) rose 2.77% and 0.62% year-on-year and month-on-month respectively during the review period.
Communication, which carries a 5.2% weight, saw its group index surge 15.85% and 1.3% year-on-year and month-on-month respectively in July 2023.
The index of recreation and culture, which has an 11.1% weight in the CPI basket, zoomed 6.84% and 3.52% on yearly and monthly basis respectively in July this year.
The index of housing, water, electricity and other fuels – with a weight of 21.2% in the CPI basket – increased 4.49% year-on-year but fell 0.7% month-on-month in July 2023.
The education sector, which has 5.8% in the CPI basket, saw its index surge 4.06 on a yearly basis this July, even as it was unchanged from the previous month.
The index of transport, which has a 14.6% weight, was seen gaining 2.53% and 0.96% on yearly and monthly basis respectively in July 2023.
The sector has the direct linkage to the dismantling of the administered prices in petrol and diesel as part of the government measures to lower the subsidies.
The price of petrol (super) and diesel remained flat on an annualised basis but that of premium rose 2.63% in July 2023. On a monthly basis, the prices of super, premium and diesel were unchanged.
The index of furniture and household equipment, which has 7.9% weight in the CPI basket, was seen shooting up 2.13% year-on-year but was down 0.13% month-on-month in July 2023.
Food and beverages group, which carry 13.5% weight in the CPI basket, became costlier by 1.54% and 1.63% on a yearly and monthly basis respectively in July 2023.
The index of health, which has a 2.7% weight, was up 0.33% on a yearly basis, while it shrank 1.28% month-on-month in July 2023.
However, the restaurants and hotels group, with a 6.6% weight, saw its index plunge 4.65% and 3.49% on a yearly and monthly basis respectively in July 2023, reflecting the lower demand in view of the summer holidays.
The index of clothing and footwear, which has a 5.6% weight in the CPI basket, fell 0.31% year-on-year but rose 0.17% on a monthly basis in the review period.
The index of miscellaneous goods and services, with a 5.7% weight, slid 0.08% and 1.64% year-on-year and month-on-month respectively this July.
The tobacco index, which has a 0.3% weight, was unchanged on yearly and monthly basis in the review period.
