Qatar's cost of living, based on the consumer price under (CPI) inflation, grew 4.8% on an annualised basis in August, according to official data.
The increase in the country's general price level comes amidst an overall inflationary pressure in the global economy, which prompted the central banks to tighten their monetary policies.
On a month-to-month basis, Qatar's inflation was up 0.13% in the review period, according to the Planning and Statistics Authority (PSA).
Qatar's core inflation (excluding housing and utilities) rather followed a similar trend with it rising 3.89% year-on-year even as it fell 0.46% month-on-month in August 2022.
Both Finance Minister HE Ali bin Ahmed al-Kuwari and the Qatar Central Bank Governor HE Sheikh Bandar bin Mohamed bin Saoud al-Thani had affirmed at the Qatar Economic Forum, powered by Bloomberg, that the country has enough tools to contain inflation.
The index of recreation and culture, which has an 11.13% weight in the CPI basket, zoomed 27.88% year-on-year but tanked 4.33% on monthly basis in August this year.
The entertainment sector has been witnessing steady increase on an annualised basis, as the country relaxed the restrictions related to the Covid-19 pandemic.
The index of housing, water, electricity and other fuels – with a weight of 21.17% in the CPI basket – saw 8.75% and 2.61% surge on yearly and monthly basis respectively in August 2022.
The food and beverages group, with a weight of 13.45% in the CPI basket, witnessed 5.77% and 2.16% growth year-on-year and month-on-month respectively this August.
The index of clothing and footwear, which has a 5.58% weight in the CPI basket, was seen expanding 2.24% and 0.43% year-on-year and month-on-month respectively in August 2022.
The restaurants and hotels group, with a 6.61% weight, saw its index gain 1.49% on a yearly basis but was down 0.19% month-on-month this August.
In the case of furniture and household equipment, which has a 7.88% weight in the CPI basket, the index rose 1.39% year-on-year but was down 0.09% month-on-month in August this year.
The miscellaneous goods and services, with a 5.65% weight, saw its index jump 0.36% and 0.11% year-on-year and month-on-month respectively in the review period.
Education, with a 5.78% weight, saw its index gain 0.31% and 0.05% on yearly and monthly basis respectively in August 2022.
However, the index of health, which has a 2.65% weight, was seen plummeting 3.38% on a yearly basis, although it was unchanged month-on-month in August 2022.
The index of transport, which has a 14.59% weight, was seen shrinking 3.2% and 1% year-on-year and month-on-month respectively in August 2022.
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.
In August 2022, the retail price of super, premium gasoline and diesel witnessed a 13.51%, 5.41% and 17.14% surge year-on-year respectively. On a monthly basis, the price of super and diesel was flat; while that of premium declined 25%.
Communication, which carries a 5.23% weight, saw its group index shrink 1.24% on a yearly basis. It was flat month-on-month respectively in the review period.
The tobacco index, which has a 0.28% weight, was unchanged on yearly and monthly basis in the review period.
The increase in the country's general price level comes amidst an overall inflationary pressure in the global economy, which prompted the central banks to tighten their monetary policies.
On a month-to-month basis, Qatar's inflation was up 0.13% in the review period, according to the Planning and Statistics Authority (PSA).
Qatar's core inflation (excluding housing and utilities) rather followed a similar trend with it rising 3.89% year-on-year even as it fell 0.46% month-on-month in August 2022.
Both Finance Minister HE Ali bin Ahmed al-Kuwari and the Qatar Central Bank Governor HE Sheikh Bandar bin Mohamed bin Saoud al-Thani had affirmed at the Qatar Economic Forum, powered by Bloomberg, that the country has enough tools to contain inflation.
The index of recreation and culture, which has an 11.13% weight in the CPI basket, zoomed 27.88% year-on-year but tanked 4.33% on monthly basis in August this year.
The entertainment sector has been witnessing steady increase on an annualised basis, as the country relaxed the restrictions related to the Covid-19 pandemic.
The index of housing, water, electricity and other fuels – with a weight of 21.17% in the CPI basket – saw 8.75% and 2.61% surge on yearly and monthly basis respectively in August 2022.
The food and beverages group, with a weight of 13.45% in the CPI basket, witnessed 5.77% and 2.16% growth year-on-year and month-on-month respectively this August.
The index of clothing and footwear, which has a 5.58% weight in the CPI basket, was seen expanding 2.24% and 0.43% year-on-year and month-on-month respectively in August 2022.
The restaurants and hotels group, with a 6.61% weight, saw its index gain 1.49% on a yearly basis but was down 0.19% month-on-month this August.
In the case of furniture and household equipment, which has a 7.88% weight in the CPI basket, the index rose 1.39% year-on-year but was down 0.09% month-on-month in August this year.
The miscellaneous goods and services, with a 5.65% weight, saw its index jump 0.36% and 0.11% year-on-year and month-on-month respectively in the review period.
Education, with a 5.78% weight, saw its index gain 0.31% and 0.05% on yearly and monthly basis respectively in August 2022.
However, the index of health, which has a 2.65% weight, was seen plummeting 3.38% on a yearly basis, although it was unchanged month-on-month in August 2022.
The index of transport, which has a 14.59% weight, was seen shrinking 3.2% and 1% year-on-year and month-on-month respectively in August 2022.
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.
In August 2022, the retail price of super, premium gasoline and diesel witnessed a 13.51%, 5.41% and 17.14% surge year-on-year respectively. On a monthly basis, the price of super and diesel was flat; while that of premium declined 25%.
Communication, which carries a 5.23% weight, saw its group index shrink 1.24% on a yearly basis. It was flat month-on-month respectively in the review period.
The tobacco index, which has a 0.28% weight, was unchanged on yearly and monthly basis in the review period.
