The core inflation in Qatar's grew faster than the general consumer price index (CPI) inflation year-on-year in February 2022, according to the official statistics.
The CPI of January 2022 excluding “housing, water, electricity, gas and other fuels, surged 4.82% year-on-year; while the general CPI inflation rose 3.99% in the review period, said the figures released by the Planning and Statistics Authority.
Qatar's cost of living, based on CPI inflation, rose on a yearly basis this February mainly on higher expenses towards food, transport, recreation and clothing.
A recent Qatar Economic Outlook suggested that Qatar is expected to see imported and domestic inflationary pressures due to the rise in prices of basic commodities in global markets caused by the bottlenecks in commodity supply chains as well as the negative repercussions of expansionary financial and monetary policies.
On a monthly basis, the country's CPI inflation was down 0.26%; while core inflation fell 0.62% in February 2022.
The index of recreation and culture, which has an 11.13% weight in the CPI basket, soared 22.16% year-on-year even as it shrank 3.37% month-on-month in February 2022.
The food and beverages group, with a weight of 13.45% in the CPI basket, witnessed a 6.92% growth on a yearly basis but was down 0.34% on monthly basis in February 2022.
The index of transport, which has a 14.59% weight, was seen shooting up 4.94% year-on-year but fell 0.98% on monthly basis this February.
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 February 2022, the retail price of super, premium gasoline and diesel witnessed a huge 55.35%, 41.38% and 41.38% surge year-on-year respectively. On a monthly basis, the price of super and diesel was flat but that of premium went up 2.5%.
Miscellaneous goods and services, with a 5.65% weight, saw its index jump 3.33% and 0.49% year-on-year and month-on-month in February 2022.
The index of clothing and footwear, which has a 5.58% weight in the CPI basket, was seen gaining 3.32% and 0.23% on yearly and monthly basis respectively in February 2022.
Communication, which carries a 5.23% weight, saw its group index rise 0.31% year-on-year but was unchanged month-on-month respectively in the review period.
Education, with a 5.78% weight, saw its index jump 0.48%on a yearly basis but was unchanged month-on-month this February.
In the case of furniture and household equipment, which has a 7.88% weight in the CPI basket, the index grew 0.41% and 0.01% year-on-year and month-on-month respectively in January this year.
The index of health, which has a 2.65% weight, plunged 3.09% on a yearly basis although it was flat month-on-month in February 2022.
The restaurants and hotels group, with a 6.61% weight, tanked 2.45% year-on-year but was up 0.19% on a monthly basis this February.
The index of housing, water, electricity and other fuels – with a weight of 21.17% in the CPI basket – saw 0.55% and 1.36% surge on yearly and monthly basis respectively this February.
The tobacco index, which has a 0.28% weight, was unchanged on yearly and monthly basis in the review period.