The museum of Islamic Art in Doha, Qatar

Qatar Inflation March 2024

Qatar: Inflation falls to three-year low in March

Inflation came in at 1.0% in March, which was down from February’s 2.7%. The reading represented the lowest inflation rate since March 2021. The deceleration was largely due to a smaller rise in food prices, which, in turn, was likely due to the government discounting over 900 consumer goods during Ramadan. Ramadan started on 10 March in 2024, as opposed to 23 March in 2023, meaning that the discount took effect for more of the month this year than last year, reducing the year-on-year increase in food prices in turn.

Accordingly, annual average inflation fell to 2.5% in March (February: 2.8%).

Finally, consumer prices dropped 1.40% in March over the previous month, coming in below the 0.34% drop logged in February. March’s result marked the weakest reading since January 2023.

Our panelists expect inflation to average lower in 2024 than in 2023, weighed on by government subsidies, the delayed effect of past interest rate hikes and lower global food prices. That said, strong domestic demand growth will keep inflation above the 10-year average of 1.5%, with prices for recreation and culture having risen consistently at double-digit rates since the run-up to the FIFA World Cup in 2022.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest