According to the report recently issued by Dubai Statistics Center (DSC), the Annual Consumer Price Index (CPI) Rate hit a rise level by 0.38% in October 2018 compared to October 2017. The report indicated that prices of transportation group rose by 11.05% leading inflation to increase by 1.13 per cent, Restaurants and Hotels Food by 9.12% to rise inflation by 0.36 per cent, Food and Beverages group by 2.63% pushing inflation upwards by 0.33 per cent, Communications Group by 5.31% adding 0.25 per cent to inflation rate, Furnishings, Household Equipment and Routine Household Maintenance group by 3.90% leading inflation rate to increase by 0.15 per cent, Education group by 1.04% leading inflation rate to rise by 0.09 per cent, Tobacco group by 12.40% resulted in an increase in inflation rate by 0.06 point, , Recreation and Culture Group by 3.71% adding to inflation rate by 0.06 per cent.
In the meantime, CPI of Housing, Water, Electricity, Gas and other Fuel declined by 4.40% leading the inflation rate to go down by 1.96 per cent. The same applies to Clothing and Footwear group which decreased by 4.32% resulted in reducing the inflation rate by 0.09 per cent, Miscellaneous Goods and Services group by 0.15% pushing the inflation rate down by 0.01 per cent and Health group declined by 0.25%.
PCI Declines by 0.34% in October 2018
The DSC's report revealed also that PCI of October 2018 declined compared to September 2018 by 0.34%. The drop in PCI is attributed to a decline in prices of Housing, Water, Electricity, Gas and other Fuel by 0.61% leading the inflation rate to go down by 0.25 per cent, Miscellaneous Goods and Services group by 2.65% pushing the inflation rate down by 0.16 per cent, Transportation group by 0.55% reducing the inflation rate by 0.06 per cent and Communications group by 0.14% which led the inflation rate to decline by 0.01.
Meanwhile, the same month witnessed a rise in PCI of Food and Beverages group by 0.69% that pushed the inflation rate to rise by 0.09 per cent, Recreation and Culture increased by 1.63% adding 0.03 per cent to the inflation rate, Furnishings, Household Equipment and Routine Household Maintenance group by 0.56% leading inflation rate to increase by 0.02 per cent and Restaurants and Hotels rose by 0.30% adding 0.01 per cent to the inflation rate.
On the other hand, the PCI of the following groups remained stable during the comparison period: Clothing and Footwear group, Health group and Education group.