Turkiye hikes rates to 30% to strengthen hawkish turn 

Turkiye hikes rates to 30% to strengthen hawkish turn 
Turkiye hikes rates to 30% to strengthen hawkish turn 

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Jeddah - Yasmine El Tohamy - RIYADH: Qatar’s consumer price index experienced a monthly decline of 0.58 percent in August, reaching 106.25 points, according to the country’s Planning and Statistics Authority.   

The data showed CPI decreased in six groups, rose in three and remained unchanged in three. 

Among them, recreation and culture experienced a 3.37 percent drop in August compared to July.  

The transport sector softened by 1.65 percent, and clothing and footwear fell 0.99 percent.   

The housing and utilities sectors also declined by 0.79 percent, while miscellaneous goods and services dropped by 0.14 percent.   

A similar trend was observed in the prices of restaurants and hotels, with a slight fall of 0.13 percent.   

However, the food and beverages sector recorded an increase of 1.46 percent, followed by education, which rose by 1.62 percent. The furniture and household equipment sector grew by 0.11 percent.  

In contrast, the tobacco, healthcare, and communication sectors showed no change compared to July. 

Moreover, the country’s CPI witnessed a 2.38 percent surge compared to the same month last year. 

On a year-on-year basis, communication costs in August surged 15.85 percent compared to the year-ago period, followed by a 7.91 percent rise in recreation and culture, 5.7 percent in education and 2.33 percent in furniture and household equipment. 

Additionally, the transport sector saw a year-on-year price increase of 1.85 percent. The housing, water, electricity, other fuel, food and beverages, and health sectors saw price escalations. 

Conversely, there were dips in restaurants and hotels by 4.59 percent in August compared to the same month last year. Clothing, footwear, miscellaneous goods, and services also saw yearly declines, while tobacco remained steady. 

Kuwait CPI rose 0.15% in August  

Kuwait recorded a 0.15 percent monthly increase in its CPI in August, mainly driven by a surge in food, education and clothing prices. 

The inflation figure also saw a 3.82 percent increase in August compared to the same month last year. 

According to data from the country’s Central Bureau of Statistics, food and beverages saw a 5.7 percent yearly increase in August, while the clothing sector saw a 6.97 percent surge. 

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