Sign in Register
Posted On: 17 September 2009 12:37 pm
Updated On: 12 November 2020 02:10 pm

Rents plunge 17 percent this year

Paper Boy
Paper Boy
Discuss here!
Start a discussion
House rents have come down as much as 17 percent since the dawn of the current year with the overall rate of inflation easing, but food has become a tad costlier. Among the food items, fresh vegetables, fish and eggs have lately become marginally expensive. Rents, which have been the largest contributor to inflationary pressures, dropped 1.7 percent last month, having slid 0.8 percent in July with the largest decline witnessed in apartment rents, says the Qatar Statistics Authority (QSA). Economy class airfares have also been showing a downward trend since July. They increased in June due to the summer rush. The fares were down 10.5 percent in July and a further 7.8 percent last month. The overall consumer price index (CPI) decreased 0.3 percent in July and a further 0.8 percent last month, reflecting a welcome easing of the cost of living. The CPI is a measure of the general price level of goods and services consumed by the average household in the country. To recall, the rate of inflation peaked at historic highs last year. Clothing and footwear too have become marginally cheaper but fresh vegetables and fish are becoming costlier, the QSA figures show. The index for clothing and footwear prices was 8.4 percent lower than in January this year with significant decreases seen in women’s clothing and fabrics. But the rates of children’s shoes rose 13.7 percent in August. Fresh vegetables were 3.2 percent more expensive in July than in June with the food price index (FPI) rising in double digits at 11.1 percent last month. Fish also became slightly expensive as prices rose seven percent in July and a further 3.3 percent last month. Fish prices had actually dropped 4.8 percent in June. Eggs were also marginally expensive last month. They had actually become cheaper in July as their rates dropped 13.5 percent. Locally produced eggs were cheaper by as much as 21 percent in the same month. FPI is a new section introduced by the QSA but remains an indispensable component of the CPI. The FPI rose in July (0.8 percent) and increased by a further 1.6 percent last month. Eating out has also become a bit expensive as the general price level for dining at restaurants and coffee shops as well as hotel accommodation rose 1.2 percent in July remaining unchanged last month. But overall, the inflationary pressure has been easing much to the comfort of the common man.