https://arab.news/9yp62
RIYADH: Qatar’s annual inflation rate eased to 0.24 percent in December, marking a slowdown from the 0.95 percent recorded in the previous month, according to the Consumer Price Index data.
The latest figures released by the National Planning Council revealed that the December figure represents the second-lowest inflation rate of the year, following the 0.22 percent recorded in July, while January posted the highest rate at 2.99 percent.
Qatar’s inflation rate in December remained lower than that of its regional peers. Saudi Arabia recorded 1.9 percent, the lowest among G20 nations but higher than Qatar, while Oman’s 0.4 percent rate in September was still above Qatar’s latest figure.
On a month-on-month basis, the general CPI rose by 0.87 percent in December, reaching 110.24 points compared to 109.29 in November. The price rise was driven by increases in several sectors, though declines in key categories helped keep overall inflation subdued.
Compared to November, five major categories saw price increases in December. The recreation and culture sector saw the highest rise at 8.84 percent, followed by restaurants and hotels at 1.50 percent.
Clothing and footwear rose by 0.66 percent, education by 0.55 percent, and furniture and household equipment by 0.16 percent.
Meanwhile, declines were recorded in four key sectors. Food and beverages saw a decrease of 2.11 percent, while housing, water, electricity, and other fuels fell 0.83 percent.
Transport prices fell by 0.65 percent, and miscellaneous goods and services saw a slight decline of 0.23 percent. Three sectors — tobacco, health, and communication — remained unchanged compared to the previous month.
Over a 12-month period, prices increased across multiple sectors. The miscellaneous goods and services category recorded the largest increase at 6.56 percent, followed by communication at 4.44 percent and recreation and culture at 2.54 percent.
Moreover, restaurants and hotels saw an increase of 2.32 percent, education at 1.69 percent, transport at 1.38 percent, and clothing and footwear at 0.55 percent.
At the same time, four major sectors experienced annual price declines. Housing, water, electricity, and other fuels dropped by 4.23 percent, while food and beverages decreased by 1.05 percent.
Furniture and household equipment saw a 1.51 percent decline, and health services recorded a 1.01 percent decrease. The tobacco sector saw no price changes on a year-on-year basis.
Qatar’s average inflation rate for the full year 2024 stood at 1.13 percent, marking a continued downward trend from 2.85 percent in 2023 and 5 percent in 2022.
The CPI, excluding housing, water, electricity, and other fuels, reached 115.32 points in December, representing a 1.24 percent monthly increase from November and a 1.23 percent year-on-year rise.