Qatar’s inflation rate up by 2.8% in July

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Qatar’s educational, recreational and cultural cost rose by 6% to 7% in July since last year. This increase in cost resulted in Qatar’s inflation rate of 2.8% compared to the same period last year.

This annual inflation rate is based on Consumer Price Index (CPI) in July 2016 which stands at 2.8%. These prices are inclusive consumer goods and services which witnessed a marginal increase of 0.8% from the previous month when compared on a monthly basis.

Qatar’s local newspaper the Peninsula reports that the Ministry of Development Planning and Strategy recently released its data stating that the general CPI for July 2016 was estimated at 108.5, showing an increase of less than 1% compared to 107.6 CPI of June 2016.

Who witnessed inflation?

Compared with June analysis, CPI’s month-on-month July study rose in seven main groups.

These main groups that witnessed price inflation in July were: Transport (2.8%), Recreation and Culture (2.4%), Miscellaneous Goods and Services (1.5%) Furniture and Household Equipment (1%) Clothing and Footwear (0.4%), Food and Beverages (0.2%) and Housing, Water, Electricity and other Fuel (0.1%).

The decline in price was also noticed in ‘Restaurants and Hotels’ by 0.3%. The prices of goods and services grouped under ‘Tobacco, Health, Communication and Education have remained stable at the last month’s price level.

When compared both month’s index, it indicated that the general index rise was 2.8% This increase in inflation was due to the increase in the cost of education, recreation and the prices of fuel, utilities and other goods and services.

Other groups

Other groups that witnessed an annual increase in prices were: Education (7.1%) Recreation and Culture (6.1%), Miscellaneous Goods and Services (4.8%), Housing, Water, Electricity and other Fuel (4.1%) Transport (3.3%), Furniture and Household Equipment (1.5%) Clothing and Footwear (0.7%) and Communication (0.1%).

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