(MENAFN- The Peninsula) Consumers might be struggling to balance monthly budget with their limited disposable income, especially due to high rentals and rising prices of groceries, but the official statistics on inflation tell a different story.
Qatar's month-on-month inflation has witnessed a marginal increase of 0.3 percent in January, 2014 compared to December, 2013, according to the latest data released by the Ministry of Development Planning and Statistics (MDPS) yesterday.
The ministry, in a press statement, said that the Consumer Price Index (CPI) of January, 2014 is estimated at 115.7, showing an increase of 0.3 percent when compared to CPI of December 2013, and by 2.3 percent when compared to the CPI of January 2013.
The month-on-month comparison of CPI of January, 2014 with that of the previous month (CPI of December, 2013), major increases were noticed in the groups, namely: 'Furniture, Textiles and Home Appliances' by 1.9 percent, due to an increase recorded in the household services, 'Rentals, Fuel and Energy' increased by 1.0 percent. The prices of 'Garments and Footwear' have surged by 0.5 percent, 'Miscellaneous Goods and Services' soared by 0.4 percent. A decline of 0.7 percent posted in 'Food, Beverages and Tobacco' group (due to price fall seen in the fruits and vegetables), also a decline recorded in 'Entertainment, Recreation and Culture' by 0.3 percent, due to decrease recorded in a cost of travel and tourism
The year-on-year comparison, of CPI of January 2014 with that of January 2013, shows an increase of 2.3 percent at the overall level. Price increases have been registered in most of the groups: 'Rentals, Fuel and Energy' by 4.8 percent, 'Furniture, Textiles and Home Appliances' by 4.2 percent, 'Entertainment, Recreation and Culture' by 2.8 percent, 'Garments and Footwear' by 1.9 percent, and 'Food, Beverages and Tobacco' by 1.6 percent. However prices of 'Miscellaneous Goods and Services' show a decline of 4.5 percent due to decrease recorded in gold prices
After eliminating the effect of rentals, the overall index have reached 126.8, showing an increase by 0.2 percent compared to the CPI of December 2013, and by 1.4 percent when compared to the CPI of January 2013
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.