(MENAFN- The Peninsula) By Mohammad Shoeb / The Peninsula
Despite the ongoing blockade by four Arab countries, who abruptly stopped exporting all of their goods, including daily consumable essentials since June 5, the prices of most items have stabilised in the local market. Qatar's monthly inflation, based on consumer price index (CPI) in July, 2017, edged up only marginally.
The surge in prices of some items were almost offset by the fall in the prices of other goods, such as clothing and footwear, miscellaneous goods and services, housing, water, electricity, fuel and other items, whose prices have declined with varying degrees.
According to latest data released by the Ministry Development Planning & Statistics (MDPS), the CPI in July 2017 increased by 0.2 percent. This negligible increase in the CPI index of July is the same both compared to year-on-year as well as month-on-month.
The CPI of July, 2017 reached to 108.7 (base year is 2013) showing an increase of 0.2 percent, when compared to CPI of June, 2017. Compared to CPI of July, 2016, (y-o-y basis) of 0.2 percent increase has been recorded in the general index (CPI) of this month.
A month-on-month (m-o-m) analysis of CPI for July, 2017 compared with June, 2017 CPI, showed that there were four main groups, where respective indices in July have increased, namely 'Food and Beverages by 4.2 percent, 'Recreation and Culture by 0.9 percent, 'Transport by 0.6 percent, and 'Health by 0.2 percent. A decrease in prices is also noticed in 'Clothing and Footwear by 2.7 percent. 'Miscellaneous Goods and Services by 1.4 percent, 'Restaurants and Hotels 'by 1.1 percent, 'Furniture and Household Equipment and 'Communication by 1.0 percent each, and 'Housing, Water, Electricity and other Fuel by 0.6 percent. The other two groups: 'Tobacco and 'Education have remained flat at the last month's price level.
When compared on annual basis, the CPI of July, 2017 with the CPI, July, 2016, the index showed a rise in the same ratio.
This (y-o-y) price surge is primarily due to the increasing prices seen in the four groups, namely: 'Transport by 7.5 percent, 'Food and Beverages by 4.5 percent, 'Education by 3.0 percent, 'Health by 2.8 percent, Also, there has been a decrease in price levels in seven groups, namely: 'Clothing and Footwear by 4.3 percent, 'Housing, Water, Electricity and other Fuel by 3.6 percent, 'Recreation and Culture by 2.5 percent, 'Miscellaneous Goods and Services by 2.0 percent, 'Communication by 1.1 percent, 'Restaurants and Hotels by 0.8 percent, and 'Furniture and Household Equipment by 0.7 percent. No changes recorded in 'Tobacco group.
The CPI of July, 2017 excluding 'Housing, Water, Electricity and other Fuel group stands at 108.0 showing an increase of 0.4 percent when compared to the index of June 2017; and 1.4 percent when compared to the CPI of July 2016.
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