Qatar's Consumer Price Index Declines by 1.40% in March 2024

Qatar , 18 April, 2024 : The Planning and Statistics Authority (PSA) has reported a 1.40% decrease in Qatar's Consumer Price Index (CPI) for March 2024 compared to February 2024. On a year-on-year basis, the CPI increased by 0.98% from March 2023.

The CPI, which measures inflation based on a 2018 base year, covers 12 main groups with 737 goods and services derived from the Household Income and Expenditure Survey (HIES) 2017-2018.

March's CPI decline was led by drops in Recreation and Culture by 5.58%, Food and Beverages by 4.74%, Restaurants and Hotels by 1.92%, and Furniture and Household Equipment by 0.34%. Conversely, increases were seen in Clothing and Footwear by 1.88%, Miscellaneous Goods and Services by 0.99%, Transport by 0.23%, and Education by 0.03%. Prices for Tobacco, Housing, Water, Electricity, Health, and Communication remained stable.

Year-on-year comparisons showed price increases primarily in Recreation and Culture by 8.48%, Communication by 3.84%, Education by 3.48%, Food and Beverages by 2.73%, Furniture and Household Equipment by 1.28%, and Miscellaneous Goods and Services by 0.83%. Price decreases were observed in Clothing and Footwear by 3.58%, Housing-related expenses by 2.72%, Health by 1.59%, Transport by 0.93%, and Restaurants and Hotels by 0.61%, with Tobacco prices unchanged.

Excluding Housing-related costs, the March 2024 CPI stood at 109.56 points, reflecting a 1.72% decrease from February 2024, while showing a 1.90% increase from March 2023.

Source : www.zawya.com