Qatar inflation falls to zero

Qatar's inflation rate has dropped to zero and prices may currently be falling due to lower costs in housing and other sectors, an advisor to the Gulf state's Emir said in remarks published on Tuesday.

"The rate of inflation in Qatar is nil or even less than zero. It is currently negative," Ibrahim Al Ibrahim said in a report carried by daily Al Arab newspaper.

"Inflation will no longer be a problem during this year, even if prices rise again."

He expected real estate prices to keep in falling in the second half, the paper reported.

The Qatar Statistics Authority said earlier in May a new consumer price index showed prices fell more than nine percent in the first quarter compared with the fourth quarter, as housing costs slumped 16 percent and food prices eased.

The data pointed to a slowdown in domestic demand and could indicate the OPEC oil and gas producer has already experienced annual deflation, HSBC said last week.

Qatar is the world's biggest exporter of liquefied natural gas. (Reuters)

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM