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Fri 18 Nov 2011 01:39 PM

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Qatar sets up new panel to monitor price rises

Emir issues decree for committee to control prices as inflation rises to 2.2% in September

Qatar sets up new panel to monitor price rises
Qatari Emir, Sheikh Hamad bin Khalifa Al Thani

Qatar's emir Sheikh Hamad bin Khalifa Al Thani has issued a decree to set up a special committee to monitor prices in the Gulf state.

The committee at the Ministry of Business and Trade will monitor prices of commodities and services.

The move is part of efforts being exerted by Qatar to control prices of goods and services, which have witnessed a rise following the significant increase in salary, pension and social benefits for government and military employees.

Annual consumer price inflation in Qatar rose to 2.2 percent in September because of a jump in food costs, reaching its highest level since at least the beginning of 2010, when the Statistics Authority began publishing year-on-year data.

The inflation rate climbed from 2.1 percent in August, continuing this year's uptrend from 1.6 percent in January.

Qatar resumed experiencing inflation last December after a protracted period of deflation.

Consumer prices rose 0.1 percent month-on-month in September after a 0.2 percent increase in August, data from the Statistics Authority showed.

Food prices, which account for 13.2 percent of the consumer basket, gained 1.5 percent month-on-month in September after a 1.8 percent drop in the previous month.

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