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18 Mar 2019, Gergana Bencheva, EMIS Editor

Qatar's consumer prices slip 1.4% y/y in Feb

Qatar's CPI went down by 1.4% on an annual basis for February 2019, CEEMarketWatch reported referring to data provided by the development planning and statistics ministry. In comparison, consumer prices dropped by 1.6% year-on-year for January.

The country's housing and utilities segment, which is the largest in the index, contributed to the decrease in overall inflation as its prices went down by 2.1% on the year. Also, food prices declined by 1.3% for the second month of 2019. In the meantime, tobacco prices in Qatar more than doubled as its government raised the excise taxes on those products.

The CPI decline is expected to continue due to the ongoing diplomatic crisis which left Qatar isolated by its Gulf neighbours. That is why many foreigners are now reluctant to relocate to the country or buy a real estate there, CEEMarketWatch added.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch