Qatar’s Consumer Price Index (CPI) reached 108.18 points in February 2024, showing a decrease of 0.34 percent compared to the CPI of January 2024. In comparison to the CPI of February 2023, the index recorded an increase of 2.70 percent.
According to a statement released by the Planning and Statistics Authority (PSA), the monthly decrease was observed in five categories:
- Recreation and Culture decreased by 1.82 percent.
- Restaurants and Hotels declined by 1.34 percent
- Miscellaneous Goods and Services shrank by 0.34 percent.
- Transport fell by 0.28 percent.
- Food and Beverages dropped by 0.20 percent.
#QNA_Infographic |
Consumer Price Index Declines 0.34% in February#QNA #Economy https://t.co/nhznqPuWqD pic.twitter.com/i5RvURdNir— Qatar News Agency (@QNAEnglish) March 17, 2024
On the other hand, there was an increase in Clothing and Footwear by 1.49 percent. Communication by 0.25 percent. Furniture and Household Equipment by 0.09 percent. Meanwhile, Tobacco, Housing, Water, Electricity, and other Fuel, Health, and Education remained unchanged compared to the previous month.
Read more: Annual inflation in Qatar rises by 6.03 percent in September
When comparing the CPI for February 2024 with the CPI for February 2023 (annual change), an increase of 2.70 percent was observed in the overall index. This increase was primarily driven by price rises in six categories:
- Recreation and Culture increased by 16.56 percent.
- Food and Beverages expanded by 6.56 percent.
- Communication rose by 3.84 percent.
- Education increased by 3.25 percent.
- Furniture and Household Equipment strengthened by 1.40 percent.
- Miscellaneous Goods and Services grew by 0.59 percent.
On the other hand, price levels decreased in Clothing and Footwear by 3.88 percent, followed by Housing, Water, Electricity, and other Fuel, which decreased by 1.66 percent. Health decreased by 1.59 percent. Transport decreased by 0.64 percent. Meanwhile, Restaurants and Hotels decreased by 0.60 percent. Additionally, there was no changes were recorded in the Tobacco category.
Excluding the Housing, Water, Electricity, and other Fuel category, the CPI for February 2024 stood at 111.48 points, representing a decrease of 0.42 percent compared to the January 2024 index. Compared to its counterpart in 2023, the CPI for February showed an increase of 3.75 percent.
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