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Posted On: 14 March 2013 11:58 am
Updated On: 12 November 2020 02:12 pm

Rising rents, food prices push inflation rate up to 3.2pc

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Year-on-year inflation rose to 3.2 percent in February with house rent showing a disturbing upward trajectory, rising 4.8 percent since February 2012, official data released yesterday show. Rents, clubbed with fuel and energy, have a share of 32 percent in consumer expenses, though, show no increase month-on-month. Food costs, too, show no respite and grew 2.6 percent in a year. Food is clubbed with tobacco and beverages in the consumer price index (CPI) basket and have a weight of 13.2 percent, CPI figures released by Qatar Statistics Authority (QSA) for February 2013 reflect. Entertainment (recreation and culture) made the largest dent in household and individual’s budgets as they became 7.6 percent more expensive in a year since February 2012. Medical care, another basic need, became expensive too with its costs soaring 2.2 percent year-on-year. Home appliances, textile and furniture became 4.7 percent costlier. Transport and communications costs rose a marginal 0.9 percent, while the only category in the CPI whose prices declined consisted of miscellaneous goods and services. Garment and footwear prices, on the other hand, remained unchanged. The Qatar Statistics Authority data show that the price rise was minimal at 0.1 percent in February when compared to the previous month. An idea of how strongly the rents impact price rise can be had from the fact that when they (along with fuel and energy) are excluded from the CPI, the rate of inflation comes down to 2.5 percent from 3.2.