Substantially higher expenses towards transportation and restaurants, as well as costlier clothing and communication led Qatar's cost of living, based on consumer price index (CPI), rise 0.51% month-on-month this April, according to the official statistics.
The CPI inflation was, however, down 0.39% on a yearly basis despite increased expenses towards transportation, education and tobacco, the Planning and Statistics Authority data suggest.
Highlighting that the headline inflation remains subdued; the International Monetary Fund (IMF), after its officials concluded their visit to Qatar, said the proposed restructuring in the fiscal space, including taxation, may slightly lift price levels in the future.
Transport, which has 14.59% weightage, saw its group index surge 3.22% and 1.68% on monthly and yearly basis respectively this April. The sector has the direct linkage to the dismantling of administered prices in petrol and diesel, which have witnessed sustained increase in the recent past as part of lessening the subsidies.
The index of Clothing and Footwear, which has 5.11% in the CPI basket, grew 1.26% month-on-month and by a higher 3.11% year-on-year in April 2019.
The index of Restaurants and Hotels, which have 6.08% weight, expanded 1.13% on monthly basis and 0.45% on yearly basis in April this year.
Communication, which carries 5.87% weight, saw its group index jump 1.07% month-on-month; whereas it witnessed 10.45% plunge year-on-year this April.
The index of health, which carries 1.79% weightage, grew 0.69% and 0.83% on monthly and yearly basis respectively in April 2019.
Recreation and Culture, which have 12.68% weightage in the CPI basket, saw a 0.59% growth month-on-month; while it saw 5.62% shrinkage on a yearly basis this April.
In the case of Furniture and household equipment, which have 7.7% weightage in the CPI basket, its index was up 0.11% on a monthly basis and 1.67% compared with April 2018.
However, Food and beverages, which has a weight of 12.58% in the CPI basket, witnessed a 1.42% plunge month-on-month and 0.67% year-on-year in April 2019.
Miscellaneous Goods and Services, which have 5.69% weightage, saw its index plummet 0.82% and 1.06% on monthly and yearly respectively in April this year.
The index of Housing, water, electricity and other fuels – with a weight of 21.89% in the CPI basket – fell 0.34% contraction month-on-month and 2.68% year-on-year in April 2019.
The CPI of April 2019 excluding “housing, water, electricity, gas and other fuels showed an increase of 0.75% and 0.26% on monthly and yearly basis respectively.
Tobacco, which has 0.27% weight, saw its index tread a flat path on monthly basis but more than doubled with the government substantially hiking excise tax on cigarettes from January this year.
Education, with 5.75% weightage, saw its index expand 9.25% year-on-year in April this year and was unchanged month-on-month.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Dollar’s longest slump since January may deepen, says Scotiabank
French banks to step up bad loan sales as regulation bites: Deloitte
Brexit’s impact on world economy to be minimal, says Mervyn King
Wirecard hires KPMG for independent audit after FT allegations
Berlin freezes rents in key plan to tackle cost spiral
Scharf’s era atop Wells Fargo begins with lengthy to-do list
Collapse in coal prices spurs distress for Indonesian miners
Japan’s extended exports slump could push BoJ to ease policy next week
Temasek makes $3bn bid to take control of Keppel Corp