Qatar's cost of living, based on consumer price index (CPI) inflation, declined 0.69% year-on-year in November 2019 mainly on fall in the indices of clothing, recreation, housing and transport, according to the official statistics.
The country however witnessed a 0.22% jump in inflation on monthly basis, said the figures released by the Planning and Statistics Authority (PSA).
The International Monetary Fund, in its latest Article IV consultation with Qatar, said inflation is projected to peak at 3.7% in 2020 with the introduction of a value added tax, but converge to 2% in the medium term.
The index of clothing and footwear, which has 5.11% weightage in the CPI basket, plummeted 4.18% on yearly basis but on 02% rise on monthly basis in November 2019.
The index of recreation and culture, which have 12.68% weightage in the CPI basket, saw a 3.8% plunge year-on-year but was up 0.82% month-on-month this November.
The index of housing, water, electricity and other fuels – with a weight of 21.89% in the CPI basket – saw a 2.28% and 0.36% decline year-on-year and month-on-month respectively in November 2019.
The CPI of November 2019 excluding “housing, water, electricity, gas and other fuels, declined 0.25% on yearly basis but witnessed a 0.38% jump on monthly basis.
The index of transport, which has 14.59% weightage, tanked 1.64% year-on-year but grew 0.4% month-on-month this November. The sector has the direct linkage to the dismantling of administered prices in petrol and diesel.
Communication, which carries 5.87% weight, saw its group index shrank 0.11% on yearly basis, but treaded a flat path month-on-month this November.
The index of health, which carries 1.79% weightage, was down .07% on a yearly basis, even as it was flat month-on-month in November 2019.
However, the index of Tobacco, which has 0.27% weight and was flat on a monthly basis, had more than doubled year-on-year with the government substantially hiking excise tax on cigarettes from January this year.
Miscellaneous goods and services, which have 5.69% weightage, saw its index surge 4.75% and 0.75% year-on-year and month-on-month respectively in November this year.
Food and beverages, which has a weight of 12.58% in the CPI basket, witnessed a 1.13% and 1.02% growth year-on-year and month-on-month respectively in October 2019.
The index of Restaurants and Hotels, which have 6.08% weight, soared 1.27% on yearly basis even as it was unchanged on a monthly basis this November.
Education, with 5.75% weightage, also saw its index tread a flat course on a monthly basis but registered 0.93% growth on a yearly basis.
In the case of furniture and household equipment, which have 7.7% weightage in the CPI basket, it was up 0.08% month-on-month and 0.12% on a yearly basis this November.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Customer deposits to total liabilities ratio of 8 listed Qatari banks grows in nine months of 2019: PwC
Asia markets end week on a positive note
China economy grows 6% in Q4; investment picks up
BoE rate cut hangs in the balance with dovish resurgence
Innovation driving growth of tech startups, says Qatari entrepreneur
Gambia minister extends investment invitation to Qatari businesses
China is speeding up opening of its market to investment bank giants
Trade deal good for all, media discourages ‘nitpicking’: China
Air India to make itself attractive to lure suitors