Qatar CPI falls 0.4pc on month in November
Dubai, December 23, 2009
Qatar's consumer price index, on a downward trend since the start of the year, fell 0.4 per cent in November from a month earlier, Qatar's statistics authority said on Wednesday.
The index now stands at 121.8 points, down from 122.3 point in October, official data showed.
Inflation has fallen sharply in the Gulf Arab region as global economic slowdown slashed rents, property and food prices.
Consumer prices are down 5.2 per cent in November from the beginning of 2009, the authority said in an emailed statement.
On the month, rents decreased by 2.8 per cent and were 16.3 per cent lower than prices in January 2009, the authority said.
Food prices increased by 1.6 per cent on the month based on the price hike of mutton and fresh fruits, which have the largest weights in the food basket.
Despite the increase the food basket was still 1.2 per cent lower than the beginning of the year.
Qatar inflation soared to 15.2 per cent in 2008. – Reuters