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Qatar July CPI hits 19-month high

Doha, August 23, 2011

Qatar's annual inflation edged up to 1.9 per cent in July, its highest level in at least 19 months, data from the Gulf country's statistics authority showed on Tuesday.

Consumer prices fell 0.3 per cent month-on-month in July after a 0.1 per cent rise in June as food and energy costs decreased, data from Qatar's Statistics Authority showed.

The world's top liquefied natural gas exporter, spared by the popular unrest sweeping the Arab world, returned to annual inflation last December after a protracted period of deflation as its economy powers ahead at a double-digit clip.

Qatar plans to spend over $125 billion in the next five years on construction and energy projects and the Opec member's economy should keep growing strongly.-Reuters

 




Tags: Qatar | High | consumer price |

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