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| Inflation and Consumer Price Index (April2015)

Image : Foodstuffs Shop
Image : Foodstuffs Shop

A report issued at Dubai Statistics Center (DSC) indicated a raise in the annual inflation rate for Consumer Price Index (CPI) at 0.23% in April 2015 compared to March 2015. This came as a result of the increase in miscellaneous goods and services prices at 1.35% as its relative importance reached 6.15%.

Education

Inflation rate of Education Fees has increased by 0.47%, as its relative importance reached 4.09% of the total consumer basket.

Housing, Water, Electricity, Gas, and other Fuels

Inflation rate of Housing, Water, Electricity, Gas, and other Fuels has increased by %0.33; this category is considered the highest in terms of relative importance which reached 43.70%.

Food and Non-Alcoholic Beverages

Inflation rate of Food and Nonalcoholic Beverages has increased at 0.06% as its relative importance reached 11.08% of the total consumer basket.

Furnishings, Household Equipment and Routine Household Maintenance

Inflation rate of Furnishings, Household Equipment and Routine Household Maintenance has increased at 0.03% to reach 3.34% of the total consumer basket.

Recreation and Culture

Inflation rate of Recreation & Culture has increased at 0.01% as its relative importance reached 4.24% of the total consumer basket.

Tobacco Group

Inflation rate of Tobacco Group has declined at 1.20% as its relative importance reached 0.24%.

Transport

Inflation rate of Transport has declined by 0.22% as its relative importance reached 9.08%.

Restaurants and Hotels

Inflation rate of Restaurants and Hotels has declined by 0.04% to reach a relative importance of 5.48%.

Inflation rate of other groups has stayed at the same levels during the comparison period. It's worth mentioning that the relative importance of Clothing and Footwear reached 5.52%, Health reached 1.08% and Communication reached 6.00% of the total consumer basket.

On the other hand, the annual inflation rate of Consumer Price Index (CPI) has increased by 4.19% in April 2015 compared to the same period in 2014. of Clothing and Footwear Group ranked first at 8.67%, followed by Tobacco Group at 7.31%, housing, water, electricity, gas and other fuels at 7.10%. such variation in miscellaneous Goods and services prices has increased by 3.56%, while inflation rate of Restaurants and Hotels Group increased by 2.93%, Education Group increased by 2.22%, Transport Group increased by 1.20% and 0.82% was the increase rate of both Health and Communication groups. While the Recreation & Culture has declined at 0.15% and Food and Non-Alcoholic Beverages at 0.13%.

Food and Non-Alcoholic Beverages

Prices of food and food and non-alcoholic beverages have increased at 0.06% due to a raise in price of uncategorized foods by 2.82%, fruits by 2.01% due to raise in cost of air shipment. Mineral water, soft drinks and juices prices have increased by 1.73%.

On the other hand, the annual CPI has fallen by 0.13% due to a fall in price of fruits by 5.36% followed by vegetables by 1.38% as a result of increase in domestic production compared to April 2014, while prices of fish and sea food have fallen by 1.05%.

Alcoholic Beverages and Tobacco

Inflation Rate of Alcoholic Beverages and Tobacco has fallen by 1.20% due to fall in tobacco prices by 1.53%. In return, Group's CPI has been affected by 8.5% due to raise in tobacco prices by 11.11% which has been noticed since last July.

Clothing and Footwear

In spite of the stability in Clothing and Footwear Inflation Rate compared to last month, annual Inflation Rate has increased by 8.67% due to raise in garments by 11.92%. Footwear prices have increased by 2.80% as well as fabrics prices which have risen by 2.29%.

Housing, Water, Electricity, Gas, and other Fuels

Monthly inflation rate of expenditure group of housing, water, electricity, gas, and other fuels has increased by 0.33% due to a rise in house rent paid by tenants, by 0.38%. Due to the increase in goods prices, annual inflation rate of this group has increased by 7.10%   this resulted from the raise in house rent paid by tenants, by 8.82%.

Furnishings, Household Equipment and Routine Maintenance

Monthly inflation rate of furnishings, household equipment and routine household maintenance has increased by 0.03% due to a rise of small tools and miscellaneous accessories (lighting accessories for home) by 1.36%, prices of household utensils, metal and glass tools and tableware by 0.26% and price of non-durable household goods by 0.01%.

At the annual level, inflation rate has increased by 7.31% due to raise in prices of small domestic appliance by 27.26%, household services by 13.52% as  Philippines has stopped supplying domestic labor which resulted in lack of labor applications and increase of demand for the available nationalities. In addition, prices of household appliances have increased by 2.12%.

Health

Monthly inflation rate of health has been noticed to be stable, while the annual inflation rate has increased by 0.82% due to a rise in price of medical products by 7.24% followed by hospital services by 4.58%, and nursing and doctors' fees by 1.24%.

Transport

Transport monthly inflation rate has fallen by 0.22% due to motorcycle items prices decrease by 3.69% due to release of new models. In addition, air transport prices have fallen by 2.90% due to the lack of demand after the spring break. Furthermore, personal transport prices have fallen by 1.84% due to the offers of car agencies.

Annually, the inflation rate has increased by 1.20% as a result of the rise in road transport prices by 13.87% after a decision by RTA (Road and Transport Authority) concerning the new tariff for taxis within the Emirate since the beginning of December, 2014. Moreover, prices of transportation parts and accessories have increased by 7.63% followed by motorcycle prices by 2.51% due to the good weather and increase of picnics which affected the annual inflation rate,

Communications

Although the inflation rate of communication is stable compared to last month, the annual inflation rate has increased by 0.82% due to rise in in prices of postal services by 10.71% and after Emirates Post increased the prices of post boxes rent since last December. Moreover, telecommunication services prices have increased by 0.90%.

Recreation and culture

Monthly inflation rate of recreation and culture has increased by 0.01% as a result of a rise in audiovisual equipment prices by 1.42%. At the annual level, inflation rate of such group has fallen by 0.15% due to drop in audiovisual equipment prices as a result of the rapid technology development, in addition to the drop in data processing equipment by 14.82% followed by photography equipment and their accessories by 12.80%

Education

Education monthly inflation rate has increased by 0.47% due to the rise in Indian and Pakistani school fees that starts on April, as kinder garden fees have increased by 0.67% and secondary stage fees have increased by 0.63%.

Annually, education inflation rate has increased by 2.22% as secondary stage fees has witnessed an increase by 2.59%, kinder garden fees by 2.52% and university fees by 1.41%.

Restaurants and Hotels

Monthly inflation rate of restaurants and hotels has fallen by 0.04% as a result of the drop in hotels stay prices by 10.12% due to the end of holiday season. On the contrary, the annual inflation rate has increased by 2.93% due to the rise in cafes and restaurants prices by 2.97%.

Miscellaneous goods and services

Monthly inflation rate of miscellaneous goods and services has increased by 1.35% due to rise in vehicles insurance fees by 5.13% after requiring insurance companies to pay sums of money for ambulances services providers resulting in the rise of insurance policy prices. Furthermore, prices of jewelry and watches have increased by 1.12% and prices of personal care tools have increased by 0.33%.

By the same token, annual inflation rate has increased to 3.56% as a result of rise in prices of non-classified services by 5.88%. In addition, vehicles insurance fees increased by 5.13% as well as personal care tools prices which have increased by 4.23% and affected the inflation rate increase.

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