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On a quarterly basis the fourth quarter of 2008 overall inflation
rate measured by CPI had 1.4% increase from the third quarter of
2008.
With the release of the fourth quarter CPI, QSA said that this
equates to an annual average rate of CPI inflation of fifteen
percent for 2008 when compared to 2007.
Despite the easing overall CPI inflation, the index of prices for
the food, beverages and tobacco category was 17.5 percent higher
than the fourth quarter of the previous year but was down from the
21.8 percent increase recorded in the third quarter. The most
pronounced increases in food prices were a 27.6 percent increase in
bread and cereals and a 34.4 percent increase in fish and seafood
prices. Oils and fats as well as fruit and vegetables also showed
significant increases.
The price index for the rent, domestic fuel and energy group which
has more than 20 percent weight in the total CPI increased by 13.7
percent – down from the 18.85 percent growth recorded in the third
quarter and the 24.4 percent in the second quarter of 2008. This
group is dominated by the rental price index and has shown a decline
in inflation since the second quarter of 2008. In other words,
rental prices were still higher than those in 2007 but the rate of
increase has slowed down.
The index for garments and footwear went up by 12.8%, of which
garments rose by 13.8 percent and footwear by 10.3 percent.
The Statistics Authority noted that the final quarter of 2008 CPI
will be the last based on the old basket of goods and services.
During 2009 QSA will be introducing a new CPI that is based on the
most recent household expenditure survey.
For further information QSA makes information pertaining to the CPI
available on its website at www.qsa.gov.qa and they welcome any
enquiries or comments.
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