Qatar’s producer price index contracted 29.6% y/y in April, narrowing from a 33% annual deflation the preceding month, amid falling costs in all sectors except utilities, the statistics office said on June 29.
In monthly terms, however, Qatar’s PPI grew 1.6% in April, reversing a 1.9% m/m contraction in March. The monthly expansion is the first in over ten months amid slightly recovering oil prices and the gradually fading low base effects.
Falling production charges in Qatar have curbed the CPI inflation over the past 17 months despite strong inflationary pressures amid aggressive public spending. Qatar’s CPI inflation cooled to 2.6% y/y in May from 3.4% y/y the preceding month on falling food prices and lower entertainment costs.
Producer prices in the mining and quarrying sector (77% of the index) dropped 35% y/y albeit rising 1.1% m/m in April on contracting producer charges in the crude oil and natural gas sector (down 35.4% y/y) that largely offset a 0.5% y/y rise in the charges of stone, sand and clay.
Utility prices grew 2.1% y/y in April but shrank 1.6% m/m. Water costs grew 2.7% y/y and those of electricity energy grew 1.5% y/y.
The manufacturing sector's PPI (21% of the basket) declined 18% y/y in April but expanded 2.4% m/m on higher energy costs in monthly terms.
US President Donald Trump on October 16 warned that the termination of the Iran nuclear deal is still a clear possibility even though he ... more
US Defence Secretary Jim Mattis on October 3 told the Senate Armed Services Committee that it currently appears to be in the strategic interest of Washington to remain in the Iran nuclear deal. ... more
Iran’s foreign minister has said the country is willing to formally accept a tougher nuclear inspection regime in six years. However, Mohammad Javad Zarif continued to rule out any renegotiation of ... more