Qatar experiencing deflation
A sharp decline in Qatari consumer prices in the first three months of 2009 point to a slowdown in domestic demand and could indicate the OPEC oil and gas producer has already experienced annual deflation, HSBC said.
The Qatar Statistics Authority said earlier in May a new consumer price index showed prices fell more than 9 percent in the first quarter compared with the fourth quarter, as housing costs slumped 16 percent and food prices eased.
HSBC said rebasing the data suggested annual consumer prices fell 2.4 percent in the first quarter from inflation of 13.2 percent in the fourth quarter.
"Our expectation is that the downward trend in prices will have run its course by mid-year," HSBC said.
"Nevertheless, the severity of the Q1 price fall has taken us by surprise, and we will continue to watch closely for evidence of further price declines that could undermine corporate margins, discouraging investment and slowing employment growth."
full story; http://business.maktoob.com/20090000003211/Qatar_experiencing_deflation_...
This is not an official or accurate report from the Statistics - HSBC had no right to release this.
Prices have gone down, but there is no deflation unless inflation falls below the baseline. That has not happened yet.
I haven't really noticed a fall in prices of foodstuffs and consumer goods..
Rents are dropping slowly, very noticeable for range higher than 20
Anyone still remember the 40k, 50k per month villas ads? I don't see them anymore
"The larger grows the island of my knowledge, the
longer stretch the shores of my ignorance."
William Blake
Yeah KFC reduce 1 riyal yahoooooo
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so are people actually feeling that prices are going down?