Qatar’s inflation to ease to 2-5% this year

14 Feb 2010

(MENAFN) Qatar’s inflation reached 5 percent this year, with expectations to ease further ranging between 2 and 5 percent in 2010, QNA reported.

Qatar’s current inflation rate measured by the change in the consumer prices index (CPI) further dropped to the negative level of -5.2 percent during November 2009, compared to January of the same year, the Governor of Qatar Central Bank, Sheikh Abdullah bin Saud Al Thani said.

He added that this means that prices in general during the last year have declined due to several factors, and the most important of which was the entry of a number of residential units to the real estate market. This contributed to the drop in the monthly rent by about 14.2 percent during the same period, he said.

Al Thani has also unveiled that preparations are under way to inaugurate a credit bureau which will be inaugurated in May and will be named Qatar Credit Bureau.

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