Dubai Inflation Goes Past 2% Yet Again
Image: DSC logo
Inconsistent with the consecutive series of decline during February, March and April 2018, the inflation rate of Dubai during May 2018 edged up again to go past 2% levels and at an annual rate of 2.01%. The new inflation rate of May is so close to the 2.69% of January, 2.33% in February when the government introduced a 5 per cent value-added tax (VAT), while it came down to 1.8% in March and 1.7% in April.
Official data of the Dubai Statistics Center (DSC) showed that the prices of tobacco in May 2018 were faster to rise by 73.4% followed by restaurants and hotels by 10.8%, transportation by 10.1%, clothing and footwear by 5.58%, telecommunications by 5.47%, recreation and culture by 4.05%, food and beverage by 3.62%, household equipment and routine household maintenance by 3.29%, education by 3.23%, miscellaneous goods and services 0.9%. On the other hand, prices of housing, water, electricity, gas and other fuel went down by 2.3% on an annual basis.