Sign in Register
Posted On: 3 June 2008 08:15 am
Updated On: 12 November 2020 02:08 pm

Qatar Inflation at 14.81% Record high

Khalifa Al Haroon
Khalifa Al Haroon
Your friendly neighborhood Qatari
Discuss here!
Start a discussion
Annual inflation in Qatar rose for a third quarter running in March to a near record of 14.75 percent, the country's state Planning Council said yesterday, amid a surge in food and commodity prices, and rents. Inflation at the end of December was 13.74 percent. The last time it was higher was on March 31 last year when it was 14.81 percent. Also yesterday the economic adviser to Emir said the country needed to act over the dollar peg because of the rise in inflation. “Things are not getting better, action should be taken,” Ibrahim Al Ibrahim said from Doha, when asked about possibly dropping the peg. The government “is trying to do it but there are many constraints,” he said. The main obstacle is whether Qatar should act alone or with its Gulf Arab partners, Ibrahim said. The Pen