Qatar’s consumer price index edges up in July

Qatar’s consumer price index experienced a modest uptick in July, with the index reaching 106.8 points, marking a 0.37 percent rise compared to the previous month, the latest data from the Planning and Statistics Authority showed.

In contrast, the year-on-year CPI figures for this July displayed a more noticeable escalation, registering a 3.11 percent increase compared to the corresponding period last year.

According to the report, the month-on-month shift between June and July in the current year showcased an upward trend in five categories, a decline in an additional five categories, while two other categories remained unaffected.

Prices for recreation and culture increased by 3.25 percent, food and beverages by 1.63 percent and communication by 1.3 percent.

Similarly, the cost of transportation and clothing grew by 0.96 and 0.17 percent, respectively.

Restaurant and hotel prices decreased by 3.49 percent, followed by miscellaneous goods and services, which saw a 1.64 percent drop. Health costs declined by 1.28 percent, while housing, water, electricity and other fuel decreased by 0.70 percent.

The report added that furniture and household equipment prices dropped by 0.13 percent, while tobacco and education remained flat at the last month’s level.

On the annual level, an increase of 3.11 percent was recorded in the general index in July 2023 in comparison with the same month in 2022.

Annually, the cost of communication related products surged by 15.85 percent, while recreation and culture went up by 6.84 percent. Housing, water, electricity and fuel also rose, going up by 4.49 percent.

Similarly, education costs increased by 4.06 percent, transport by 2.53 percent, and furniture and household equipment by 2.13 percent.

Moreover, food and beverage prices increased by 1.54 percent, and health rose slightly by 0.33 percent.

However, the report showed a decreased cost associated with restaurants and hotels, down by 4.65 percent. Clothing and footwear went down by 0.31 percent, and miscellaneous goods and services by 0.08 percent.

The report concluded that the CPI of July 2023, excluding housing, water, electricity and other fuel groups, stood at 109.59 points, recording a monthly increase of 0.62. On the other hand, the July CPI rose by 2.77 percent annually.