Stable rents to limit rise in Qatar’s inflation: Oxford Economics

Stable rents to limit rise in Qatar’s inflation: Oxford Economics

Stable rents will limit the rise in inflation in Qatar, Oxford Economics said as the researcher projects the country's inflation to slow to average 2.6% in 2024

Stable rents will limit the rise in inflation in Qatar, Oxford Economics said as the researcher projects the country's inflation to slow to average 2.6% in 2024.Headline inflation rose to 1.7% in December last year, “defying” what Oxford Economics said of “expectations of a slowdown”, from 1.3% in November 2023.Prices rose 0.9% month-on-month, the third highest monthly increase last year.The key drivers behind the monthly rise were the food category and prices of recreation and culture, but clothing prices also surged. Housing, which has the largest share in the CPI basket were stable, leaving prices 2.9% lower than in the same month the year before. “This supportive base effect will continue in the coming months. Overall, inflation averaged 3% in 2023, slightly higher than the 2.9% we projected, but will slow to average 2.6% this year,” Oxford Economics noted.After inflation turned negative in 2020, it climbed to 2.3% in 2021 and 5% in 2022 amid rising global food and energy prices and increasing demand in the runup to the World Cup.In its