Qatar inflation dips 1.3% in January 2024: PSA data

Qatar experienced a 1.3 percent decline in inflation in January compared to December 2023, driven by decreased prices for communication and recreation, official data showed.

According to the report released by the country’s Planning and Statistics Authority, the consumer price index, a comprehensive measure of inflation, reached 108.55 points.

Compared to December, expenses for communication slid by 11.92 percent in January, while prices for recreation and culture witnessed a decline of 8.80 percent during the same period.

Similarly, costs for clothing and footwear, as well as furniture and household equipment, decreased by 2.45 percent and 0.54 percent, respectively, in January compared to the previous month.

Expenses for healthcare also witnessed a marginal fall of 0.14 percent in January.

On the other hand, prices for restaurants and hotels increased by 3.63 percent in January, followed by expenses for transport, which went up by 1.90 percent.

Additionally, food and beverage prices edged up by 0.76 percent in January compared to the previous month, while charges for miscellaneous goods and services rose by 0.70 percent.

Costs for education remained stable in January, increasing by just 0.01 percent compared to the previous month.

Tobacco rates remained flat at last month’s price level, as reported by PSA.

However, Qatar’s inflation surged by 2.99 percent in January 2024 compared to the same month in 2023.

The annual rise in inflation was driven by a spike in prices for recreation and culture, which soared by 23.17 percent.

Costs for food and beverages also witnessed a substantial rise of 5.23 percent in January compared to the same month of the previous year.

Similarly, expenses for communication increased by 3.59 percent, while prices for education edged up by 3.25 percent, as indicated in the PSA release.

Furniture and household equipment charges rose by 1.41 percent in January, followed by a marginal increase of 0.64 percent in costs for miscellaneous goods and services.

On the other hand, prices for clothing and footwear expenses decreased by 6.05 percent in January 2024 compared to the same month of the previous year.

Prices for housing, water, electricity, and other fuels also decreased by 2.27 percent year-on-year in January, while healthcare expenses decreased by 1.59 percent during the same period.