Qatar’s cost of living, based on consumer price index (CPI) inflation, rose 1.23% month-on-month in January 2021, mainly on account of costlier transport, furniture, communication and food, according to the Planning and Statistics Authority (PSA).
Qatar's core inflation reportedly moved faster the overall inflation this January on a month-to-month term.
While Qatar's cost of living, based on consumer price index (CPI), shrank 1.29% year-on-year this January; the core inflation (CPI excluding housing and utilities) was down 0.21%, said the PSA figures.
On a monthly basis, the country's overall inflation rose 1.23% in January 2021; but core inflation grew faster by 1.74%.
The Washington-based the Institute of International Finance in its latest report forecasts Qatar’s inflation to be 0.9% in 2021.
The index of transport, which has a 14.59% weight, surged 4.12% and 6.11% month-on-month and year-on-year respectively in January 2021. The sector has the direct and indirect linkage to the dismantling of administered prices in petrol and diesel.
In January 2021, the retail price of super saw 8% month-on-month jump, premium by 8.33% and diesel by 13.06%; even as on a yearly basis, their prices declined 28.95%, 25.71% and 29.73% respectively.
In the case of furniture and household equipment, which has a 7.88% weight in the CPI basket, the index soared 2.96% and 2.85% on monthly and yearly basis respectively in the review period.
Communication, which carries 5.23% weight, saw its group index grow 2.01% and 3.01% jump month-on-month and year-on-year respectively in January 2021.
Food and beverages, which has a weight of 13.45% in the CPI basket, witnessed a 1.44% and 0.52% increase on monthly and yearly respectively this January.
The index of clothing and footwear, which has a 5.58% weight in the CPI basket, reported 1.36% expansion month-on-month but witnessed 6.88% shrinkage year-on-year in January 2021.
The index of restaurants and hotels, which has a 6.61% weight, grew 1.3% and 3.05% growth month-on-month and year-on-year respectively this January.
Education, with a 5.78% weight, saw its index grew 0.58% and 3.97% on monthly and yearly basis respectively this January.
Miscellaneous goods and services, with a 5.65% weight, saw its index jump 0.43% and 2.81% month-on-month and year-on-year in January 2021.
The index of recreation and culture, which has 11.13% weight in the CPI basket, was up 0.22% on monthly basis but plummeted 16.93% year-on-year in January this year.
However, the index of housing, water, electricity and other fuels – with a weight of 21.17% in the CPI basket – saw a 0.83% and 5.49% contraction on monthly and yearly basis this January.
The index of health, which carries 2.65% weight, declined 0.79% and 1.3% month-on-month and year-on-year respectively in January 2021.
The tobacco index, which has a 0.28% weight, soared 8.37% year-on-year but unchanged on a monthly basis in the review period.