According to a report issued by Dubai Statistics Center (DSC) revealed that the Annual Consumer Price Index (CPI) Rate hit a rise level by 2.20% in August 2018 compared to the same period in 2017. CPI increases due to a rise in prices of transportation group by 18.46% leading inflation to increase by 1.87 point, restaurants and hotels group by 11.93% pushing inflation upwards by 0.46 point, Food and Beverages group by 3.31% adding 0.41 point to inflation rate, Education group by 3.23% leading inflation rate to rise by 0.29 point, Communication group by 5.62% affecting the inflation rate to increase by 0.27 point, Tobacco group by 78.50% resulted in an increase in inflation rate by 0.25 point, Recreation and Culture group by 8.54% adding 0.16 point to inflation rate, Furnishings, Household Equipment and Routine Household Maintenance group by 3.37% leading inflation rate to increase by 0.13 point, Miscellaneous Goods and Services group by 0.71% pushing inflation rate up to 0.04 point and Health group by 0.04%.
In the meantime, CPI of Housing, Water, Electricity, Gas and other Fuel declined by 3.60% leading the inflation rate to go down by 1.62 point. The same applies to Clothing and Footwear group which decreased by 3.34% resulted in reducing the inflation rate by 0.07 point.
CPI Increases by 0.21% in August 2018
As for the CPI of August 2018 compared to July 2018, it witnessed an increase by 0.21%. Grounds for such an increase is attributed to a rise in Transportation group by 3.98% adding 0.45 point to inflation rate, Recreation and Culture group by 2.51% leading inflation rate to increase by 0.05-point, Communication group by 0.16% pushing inflation rate to go up by 0.01-point, Household Equipment and Routine Household Maintenance group by 0.07% and Restaurants and hotels by 0.03%.
Meanwhile, prices of certain groups declined, namely: Housing, Water, Electricity, Gas and other Fuel by 0.60% leading inflation rate to decrease by 0.26-point, Food and Beverages by 0.18% pushing the inflation rate down by 0.02-point, Miscellaneous Goods and Services group by 0.41% resulted in a decline in inflation rate by 0.02 point.
Meanwhile, Tobacco, Clothing and Footwear, Health and Education groups maintained their former levels during the period of comparison.