Inflation falls in Qatar

Inflation has fallen slightly in Qatar according to Qatar’s central bank, although at 12.5% it is still well above Qatar’s interest rates. The fall in inflation seems to be mainly due to a slowing in the price of renting and buying property, which rose at a mere 27% in the three months to the end of June (compared to 35% to the end of March).

Qatar claims that inflation is due to the booming economy. While this is undoubtedly a factor, Qatar’s crazy policy of low interest rates and pegging the riyal to the dollar is also a major factor. Meanwhile, people are seeing the value of the wages stripped away. Some long term Doha residents are starting to leave – sometimes very reluctantly. Some Qataris are also suffering, with young people putting off their inordinately expensive weddings to later in life, and spending longer in the family home.

If you are considering to Qatar, remember to factor inflation into your calculations. Try also to find a contract where accommodation is included!

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Qatar Doha Middle East inflation