Qatar price index drops again in July
Doha, August 29, 2010
Consumer prices in Qatar fell 2.9 percent on an annual basis in July and dipped 0.5 percent from the previous month, mainly due to a drop in housing costs, data from the country's statistics authority showed on Sunday.
Analysts expected prices in the world's largest liquefied natural gas (LNG) exporter to pick up speed again this year, helped by a rise in food costs.
The Opec member's economy is seen largely outperforming fellow Gulf oil energy producers with expected growth of 16.1 percent this year, up from 8.7 percent in 2009, due to continued expansion of gas output and government infrastructure spending.
For July 2010, Qatar's statistics authority said it had shifted the base year for calculating the consumer price index to 2007 from 2006. It did not release all the revised historical data.
Analysts polled by Reuters expected average inflation of 1.7 percent in 2010. - Reuters