Qatar’s Consumer Price Index (CPI) of February 2023 recorded an increase by 4.41% on an annual basis, reaching 105.34 points. When compared to CPI of January 2023, the index showing a decrease by 0.06%.

The Consumer Price Index which measures inflation includes 12 key groups of consumer goods that have a total of 737 commodities. It is calculated using the base year 2018 based on the data of the household income and expenditure survey 2017-2018.

A comparison of the CPI, February 2023 with the CPI, February 2022 (Annual Change), an increase has been recorded in the general index (CPI), by 4.41%. This Y-o-Y price increase primary due to the prices rising in seven groups namely: “Recreation and Culture” by 20.80%, followed by “Housing, Water, Electricity and other Fuel” by 8.94%, “Restaurants and Hotels” by 4.45%, “Education” by 4.26%, “Transport” by 2.38%, “Health” by 1.62%, “Clothing and Footwear” by 0.71%.

A decrease has been shown in price levels in “Communication” by 4.84%, followed by “Food and “Beverages” by 1.29%, “Miscellaneous Goods and Services” by 0.23%, and “Furniture and Household Equipment” by 0.04%. No changes recorded on “Tobacco”.

When comparing the main components of CPI for the month of February 2023, with the previous month January 2023 (Monthly change), it is found that, there was a decrease in five groups, while three groups were increased, and four groups remained unchanged.

The groups showed decrease as a follow: “Restaurants and Hotels” by 2.12%, “Food and Beverages” by 1.45%, “Clothing and Footwear” by 0.80%, “Housing, Water, Electricity and other Fuel” by 0.62%, and “Miscellaneous Goods and Services” by 0.28%. An increase has been recorded in “Recreation and Culture” by 3.75%, followed by “Transport” by 0.24%, and “Furniture and Household Equipment” by 0.11%. “Tobacco”, “Health”, “Communication”, and “Education” had remained flat at the last months price level.

The CPI of February 2023 excluding “Housing, Water, Electricity and other Fuel” group stands at 107.45 points recorded a decrease by 0.09% when compared to the index of January 2023. Compared with counterpart in 2022, the CPI of February index increased by 3.37%. (QNA)

Source: Qatar News Agency