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Qatar core inflation rises faster than CPI in December on transport, recreation

Santhosh V. Perumal

Wednesday، 13 January 2021 09:02 PM

Qatar's core inflation rose faster month-on-month than the general consumer price index (CPI) in December 2020, on rapid rise in the price levels in transport and recreation, according to the official statistics.
The CPI of December 2020 excluding “housing, water, electricity, gas and other fuels, rose 0.23% on a monthly basis but witnessed a 2.68% decline on a yearly basis.
Otherwise, Qatar's cost of living, based on CPI inflation, was up 0.02% month-on-month, mainly on transport and recreation, hinting at the growing demand after the country substantially lifted the Covid-19 restrictions.
The country's CPI inflation plunged 3.37% year-on-year in the review period, mainly dragged by recreation, clothing and utilities sectors.
The index of recreation and culture, which has an 11.13% weight in the CPI basket, grew 3.31% month-on-month but plummeted 21.61% year-on-year in December 2020.
The index of transport, which has a 14.59% weight, grew 0.53% and 0.13% on monthly and yearly basis respectively in December 2020.
The sector has the direct linkage to the dismantling of the administered prices in petrol and diesel as part of the government measures to lower the subsidies.
In December 2020, the price of super, premium gasoline and diesel witnessed a year-on-year decline of 34%, 31% and 38% respectively. Against the November 2020 levels; the price of super and premium was unchanged; even as that of diesel rose about 5%.
Education, with a 5.78% weight, saw its index gain 0.68% and 3.37% month-on-month and year-on-year respectively in December 2020.
Miscellaneous goods and services, with a 5.65% weight, saw its index jump 0.53% and 0.6% on monthly and yearly basis respectively in December 2020.
In the case of furniture and household equipment, which has a 7.88% weight in the CPI basket, the index was up 0.08% and 0.53% respectively in December last year.
However, food and beverages, which has a weight of 13.45% in the CPI basket, witnessed 0.57% and 0.62% shrinkage month-on-month and year-on-year in December 2020.
The index of clothing and footwear, which has a 5.58% weight in the CPI basket, plunged 3.3% and 6.67% on monthly and yearly basis respectively last December.
The index of housing, water, electricity and other fuels – with a weight of 21.17% in the CPI basket – saw 0.84% and 5.56% shrinkages on monthly and yearly basis.
The index of restaurants and hotels, which has a 6.61% weight, was down 0.07% month-on-month but witnessed a 3.3% increase year-on-year in December 2020.
Communication, which carries a 5.23% weight, saw its group index unchanged on a monthly basis but saw a 0.89% jump year-on-year in the review period.
The tobacco index, which has a 0.28% weight, soared 8.37% year-on-year but unchanged on monthly basis in the review period.

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