Qatar’s CPI inflation rises 3.11% year-on-year in July: PSA

Qatar’s CPI inflation rises 3.11% year-on-year in July: PSA

Qatar's inflation, based on consumer price index (CPI), rose 3.11% in July 2023 on an annualised basis, mainly due to communication, entertainment, housing and education sectors, according to official data.

The country's CPI inflation was higher by 0.37% month-on-month this July, according to the figures released by the Planning and Statistics Authority (PSA).

The International Monetary Fund forecasts that inflation in Qatar would average 2.1% in 2023-27. The country's CPI inflation is expected to average to 3% this year, which is below 9.9% projected in the Arab world and 3.3% in the Gulf Co-operation Council region, according to Kamco Invest.

Qatar's core inflation (excluding housing and utilities) rose 2.77% and 0.62% year-on-year and month-on-month respectively during the review period.

Communication, which carries a 5.2% weight, saw its group index surge 15.85% and 1.3% year-on-year and month-on-month respectively in July 2023.

The index of recreation and culture, which has an 11.1% weight in the CPI basket, zoomed 6.84% and 3.52% on yearly and monthly basis respectively in July this year.

The index of housing, water, electricity and other fuels – with a weight of 21.2% in the CPI basket – increased 4.49% year-on-year but fell 0.7% month-on-month in July 2023.

The education sector, which has 5.8% in the