The Planning and Statistics Authority (PSA) of Qatar recently revealed that the Consumer Price Index (CPI) for January 2024 stood at 108.55 points, marking a significant decrease of 1.30 percent compared to December 2023. The report provides a comprehensive overview of price movements across various consumer goods and services, shedding light on inflation trends and economic dynamics.
Monthly comparison
While the January CPI was lower than the December figure, a year-on-year comparison reveals a moderate increase of 2.99 percent compared to January 2023. A detailed analysis of the main components of the CPI highlights mixed trends, with certain groups experiencing price decreases while others seeing increases or remaining unchanged.
Price movements
In January 2024, five groups in Qatar saw a decrease in the CPI, while six groups increased, and one group remained unchanged.
The groups that witnessed a decrease in prices compared to December 2023 include communication, which experienced the most significant drop by 11.92 percent. Recreation and culture decreased by 8.80 percent while clothing and footwear saw a 2.45 percent decrease. In addition, furniture and household equipment CPI decreased by 0.54 percent, and health by 0.14 percent.
On the other hand, restaurants and hotels recorded an increase of 3.63 percent. Meanwhile, transport increased by 1.90 percent, and food and beverages by 0.79 percent. Moreover, Qatar’s miscellaneous goods and services CPI saw a 0.70 percent increase while housing, water, electricity, and other fuel saw a 0.58 percent increase.
Education remained relatively stable, recording an increase of 0.01 percent. Meanwhile, tobacco remained unchanged compared to last month’s price level.
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Annual comparison
When comparing January 2024 with January 2023, Qatar’s CPI recorded an overall increase of 2.99 percent. This annual price growth was primarily driven by significant rises in prices within the recreation and culture, food and beverages, and communication categories, among others.
However, certain groups such as clothing and footwear, housing, water, electricity, and other fuel, health, and restaurants and hotels experienced decreases in price levels compared to the previous year.
Notably, Qatar’s CPI for January 2024, excluding the housing, water, electricity, and other fuel category, stands at 111.95 points, indicating a decrease of 1.73 percent compared to December 2023. However, compared to January 2023, this index reflects a substantial increase of 4.28 percent.
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