Higher transportation costs, reflecting the increased retail price of fuel, had its effect on the country’s consumer price index (CPI) inflation, which shot up 2.95% year-on-year in August 2021, according to the official statistics.
Qatar's cost of living, based on CPI inflation, rose 0.3% month-on-month this August, mainly on higher expenses towards transport and food.
The index of transport, which has a 14.59% weight, was seen shooting up 13.27% year-on-year and 2.19% on monthly basis in August 2021.
The sector has the direct linkage to the dismantling of the administered prices in petrol and diesel as part of the government measures to lower the subsidies.
In August 2021, the price of super, premium gasoline and diesel witnessed a huge 68%, 70.83% and 56% surge year-on-year respectively. On a monthly basis, the price of super, premium and diesel was seen rising 5%, 5.13% and 2.63% respectively.
The index of restaurants and hotels, which has a 6.61% weight, soared 1.18% and 0.46% year-on-year and month-on-month respectively in August 2021.
Food and beverages, which has a weight of 13.45% in the CPI basket, witnessed 1.33% and 0.68% expansion on yearly and monthly basis respectively in August 2021.
Education, with a 5.78% weight, saw its index gain 2.38% and 0.02% increase year-on-year and month-on-month this August.
Qatar's core inflation continued to increase faster than the general CPI year-on-year and month-on-month in August 2021.
The CPI of August 2021 excluding “housing, water, electricity, gas and other fuels, surged 4.92% and 0.38% year-on-year and month-on-month.
The index of housing, water, electricity and other fuels – with a weight of 21.17% in the CPI basket – saw 4.76% plunge on yearly basis even as it was up a marginal 0.01% on monthly basis this August.
The index of recreation and culture, which has a 11.13% weight in the CPI basket, shot up 15.88% year-on-year even as it shrank 0.98% month-on-month in August 2021.
In the case of furniture and household equipment, which has a 7.88% weight in the CPI basket, the index grew 2.36% on a yearly basis but was unchanged month-on-month in August this year.
Miscellaneous goods and services, with a 5.65% weight, saw its index jump 0.99% year-on-year but shrank 0.13% on a monthly basis in August 2021.
Communication, which carries a 5.23% weight, saw its group index rise 0.65% year-on-year even as it was down 0.25% month-on-month in the review period.
However, the index of clothing and footwear, which has a 5.58% weight in the CPI basket, plummeted 2.41% and 1.22% year-on-year and month-on-month in August 2021.
The index of health, which has a 2.65% weight, grew 0.17% on a yearly basis even as it treaded a flat path on a monthly basis in August this year.
The tobacco index, which has a 0.28% weight, was unchanged on yearly and monthly basis in the review period.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
MoCI holds workshop on curbing harmful practices in international trade
QCB governor meets governor of Turkish central bank
Qatar Chamber Health Committee reviews updates of obligatory health insurance
Supply chain management discussed at conference
Gaussin, Gam Qatar, GWC establish a partnership to trial Gaussin’s zero-emission electric tractors, yard automation solutions
Extraordinary general assembly approves Beema listing on Qatar Stock Exchange
FIFA World Cup Qatar 2022, 'gigaprojects' in Saudi Arabia to drive GCC credit demand: Moody's
Commercial Bank awarded 'Best Cash Management and Transaction Bank in Qatar'
Cracks emerge in US bond market as Fed starts to back away