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FINANCIAL NEWS
Qatar’s June inflation increases to 1.6%
14 Jul 2012
(MENAFN) Official data showed that Qatar’s annual inflation rose to 1.6 percent in June on higher costs of food, transport and communications, Reuters reported.
The Qatar Statistics Authority said inflation rose by 0.5 percent from May in which inflation stood at 1.1 percent.
The data showed that food prices increased 0.9 percent month-on-month in June, transport and communications prices jumped 2.9 percent, while rents and utility were flat.
Last month, the Gulf state’s General Secretariat for Development Planning predicted inflation to edge 2 percent this year and 3 percent in 2013.
The secretariat forecasted economy to grow by 6.2 percent in 2012 and 4.5 percent in 2013, down from 14 percent last year as the impact of two decades of gas output expansion fades.
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