Concern over possible increase in prices next year
The latest Consumer Confidence Index released by the Ministry of Development Planning and Statistics showed that majority of citizens and expats in Qatar are worried about a possible sharp rise in the prices of commodities next year.
The Index also indicates that the financial condition of a significant number of Qatari and expatriate families has remained unchanged over the past one year, but a bigger number of respondents say that they had seen an improvement in their conditions.
The Index for September 2013 is slightly up by overall indications, but it shows confidence level of people is quite low in terms of the prices of consumer goods.
The Index, based on a survey that covered both the citizens and expatriates during three months (July to September) revealed that a high 76.1 percent of respondents believe the prices would go up during the next 12 months (September 2013-September 2014).
Responding to how they feel about the financial conditions of their families compared to 12 months ago, 53.3 percent said their conditions are “better”. A marginal 4.4 percent said their conditions are “poor”.
A significant 41.5 percent said their conditions haven’t changed over the past one year. Those who said their financial conditions have improved cited better business opportunities, growing income, better job opportunities for the family members for their “betterment”.
People who said their living conditions are “poor” explained their income has not gone up on par with the growing consumer prices. Monthly expenses have gone up due to the increasing rentals and growing educational costs, they said.
The worst-affected are the fixed-income families. Of the total number of people who said their living conditions are ‘Poor’ compared to the previous year, 66.6 percent blamed the rise in consumer goods prices and 9.5 percent attributed the situation to a hike in rentals.
Very few people, nearly 0.8 percent, is confident of prices coming down during the period. While 20 percent believe the prices will remain stable, 3.1 percent said “don’t know”.
A considerable number of respondents believe the prices may go up to 5-10 percent next year.
Source: The Peninsula | Photo: QL Flickr Group
rents are going up...prices have changed as of Jan 2014 with 10-15% increase.
you are here to live from hand to mouth never save
OMG before when we arrived in Doha 2007 Qrs. 500 worth of groceries will make my cart full but now, its half only
Prices and inflation have risen just about year on here in Qatar. Yet, people complain and stay. It will be the same years from now.
if the price and rent goes up with no change other conditions, then the 9.5 % will go up to 25% -30 %. I do not think expats workers will stay in this country taking all this torture. The opportunity rise in Dubai will be a motivational factor for the expats as it is providing a much better living conditions for people in all sectors either its a workers or an entrepreneur.
No matter how much the prices rise, those here will stay and new expats will queue up to come here.