Qatar witnessed a 0.72% year-on-year (y-o-y) jump in machinery and equipment price index (MEPI) during in the second half (H2) of 2022 on account of higher prices for transport equipment, office machinery and special purpose machines, which have greater weightage in the MEPI basket, according to the official data.
Otherwise, the largest increase on an annualised basis was reported in metal tools and musical instruments, which have lower weightage in the MEPI basket, said the figures released by the Planning and Statistics Authority (PSA).
The MEPI, a short-term indicator that is calculated semi-annually, grew 0.17% when compared to that in the first half (H1) of 2022.
The MEPI – with 2012 as the base year – is used by national accounts as a deflator to calculate the constant price estimates of purchases on final demand from machinery and equipment and in calculating the capital formation estimates.
The index of transport equipment, which has 34.82% weightage in the MEPI basket, grew 1.06% on a yearly basis but shrank 1.28% month-on-month in the review period.
The index of special purpose machines, which carries a weightage of 23.71% in the MEPI basket, expanded 0.8% and 0.05% year-on-year and month-on-month respectively during H2, 2022.
The index of office, accounting and computing machinery, which have a weightage of 21.44% in the MEPI basket, shot up 1.44% and 3.75% on yearly and monthly basis respectively during the review period.
The index of metal tools and tools, which carries 0.34% weightage in the MEPI basket, zoomed 18.27% and 2.95% year-on-year and month-on-month respectively during H2, 2022.
The index of musical instruments, which carries a weightage of 0.4% in the MEPI basket, saw 3.69% and 5% surge year-on-year and month-on-month respectively during H2, 2022.
The index of general purpose machinery, which has 5.8% weightage in the MEPI basket, rose 1.25% and 0.48% on an annualised and monthly basis respectively during H2, 2022.
However, the index of radio, television and communication equipment and apparatus declined 2.83% and 3.27% year-on-year and month-on-month respectively during H2, 2022. The group has 7.13% weightage in the MEPI basket.
The index of machinery and electrical appliances, which has 4.53% weightage in the MEPI basket, showed a 1.41% shrinkage year-on-year; whereas it registered 0.81% jump compared to the first half of 2022.
The medical appliances, precision and optical instruments and watches and clocks group saw its index, which has 1.83% weightage in the MEPI basket, shrink 0.16% on an annualised basis; but surged 2.38% month-month-month during H2, 2022.
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