,
Wednesday, 19 May 2021 02:45 GMT

Qatar's CPI inflation rises month-on-month in March: PSA


(MENAFN - Gulf Times) Qatar's cost of living, based on the consumer price index (CPI) inflation, rose month-on-month this March, mainly due to the upward pressure from the transport sector, which saw a double-digit jump in retail price of fuels, according to the Planning and Statistics Authority (PSA).
Qatar's core inflation saw a jump on both monthly and yearly basis respectively in the review period.
While the overall CPI inflation rose 0.16% month-on-month this March; the core inflation (CPI excluding housing and utilities) grew faster by 0.29%, said the PSA figures.
On a yearly basis, the country's overall inflation was down 0.3%; whereas the core shot up 1.13% in March 2021.
The US-based 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, increased 3.75% and 6.87% on monthly and yearly basis this March. The sector has the direct linkage to the dismantling of administered prices in petrol and diesel.
In March 2021, the retail price of super saw 10% increase and that of premium gasoline and diesel by 10.3% month-on-month. On a yearly basis, the price of super and premium was flat; while that of diesel declined 5.88%.
The index of clothing and footwear, which has a 5.58% weight in the CPI basket, grew 1.18% month-on-month; but declined 5.12% year-on-year in March this year.
The index of restaurants and hotels, which has a 6.61% weight, rose 0.39% and 4.01% on a monthly and yearly basis respectively in the review period.
In the case of furniture and household equipment, which has a 7.88% weight in the CPI basket, the index was up 0.02% month-on-month; even as it witnessed 2.63% surge on a yearly basis in March 2021.
Education, with a 5.78% weight, saw its index grew 0.01% month-on-month while it soared 3.73% year-on-year this March.
However, the index of recreation and culture, which has 11.13% weight in the CPI basket, was seen plummeting 4.26% and 9.22% month-on-month and year-on-year in March this year.
Miscellaneous goods and services, with a 5.65% weight, saw its index decline 0.91% on a monthly basis even as it shot up 1.48% year-on-year this March.
The index of housing, water, electricity and other fuels with a weight of 21.17% in the CPI basket saw a 0.34% and 5.85% contraction on monthly and yearly basis this March.
Food and beverages, which has a weight of 13.45% in the CPI basket, witnessed a 0.13% and 0.09% shrinkage month-on-month and year-on-year respectively in the review period.
Communication, which carries 5.23% weight, saw its group index stay unchanged on a monthly basis but grew 3.91% year-on-year in March 2021.
The index of health, which carries 2.65% weight, declined 0.2% year-on-year but treaded a flat course on monthly basis in March 2021.
The tobacco index, which has a 0.28% weight, was unchanged both on a monthly and yearly basis in the review period.    

MENAFN14042021000067011011ID1101918631


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.

Authors_Square_PromoteArticle_Ink2019
Sustainability Drive 2021