FINANCIAL NEWS

Qatar inflation hits 1.6% as food, transport costs grow

07 Mar 2011

(MENAFN) Qatar Statistics Authority stated that the country’s annual inflation reached its highest since last year when it hit 1.6 percent in January, affected by the high costs of food and transportation, reported Arabian Business.

The Authority also said that consumer prices in Qatar increased .04 percent at the end of last year, yet the giant gas exporter had 2.4 percent deflation that year.

The statistics showed that living costs in the country rose 0.9 percent at the beginning of 2011, compared to a low 0.2 percent at the end of the previous year.

It is worth noting that high prices were among the main reasons behind revolts that took place in Tunisia, Egypt, and is currently going on in Libya as well as Bahrain and Oman.

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