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FinancialNews
16-06-20
Qatar- Monthly increase in May witnesses marginal deterioration
(MENAFN)
The CPI-based monthly inflation in May reduced marginally by 0.58 percent in comparison with the CPI of April of the previous year.
When compared on year-on-year with the CPI of matching month last year (May 2019), the inflation in May demonstrated an annual reduction of 3.12 percent, official data released yesterday stated.
The annual fall in inflation was due to a decline in household consumption and the prices of a basket of goods and services in many groups such as food and beverages, clothing, hotels and restaurants, and the transport sector due to the coronavirus pandemic.
According to the Planning and Statistics Authority (PSA), the Consumer Price Index (CPI) for the month of May 2020 came into 95.66 points. This announcement of CPI is the fifth release using the new base year prices of 2018, planned from the results of the household income and Expenditure survey 2017-2018.
According to a monthly analysis of CPI for May 2020 compared with CPI, April 2020, revealed that there were five major groups, distributed as follows; "Food and Beverages" by 2.37 percent, "Transport" by 1.24 percent, "Clothing and Footwear" by 0.43 percent, "Housing, Water, Electricity and other Fuel" by 0.36 percent, and "Restaurants and Hotels" by 0.34 percent. An increase has been recorded in "Miscellaneous Goods and Services" by 0.75 percent and in "Furniture and Household Equipment" by 0.10 percent. The groups of "Tobacco", "Health", "Communication", "Recreation and Culture" and "Education" had remained flat at the last month's price level.
MENAFN1606202000450000ID1100331491
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