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Inflation and Consumer Index - June 2016

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​Image: DSC logo

Inflation and Consumer Index

The monthly inflation index of goods and services in the consumer basket in Dubai showed an increase by 0.76% in June 2016, compared to May 2016, due to the increase in the food and beverage group by 2.15%, which has a relative importance of 11.08%, while the price of the transportation group increased by 2.09%, and it has a relative importance of 9.08% of the total consumer basket. Meanwhile, the clothes and footwear group prices increased by 1.57%, as this group represents 5.52% of the total relative importance to the consumer basket. Also, the index of residency, water, electricity, gas and fuel group showed an increase of 0.39% and it is considered the highest in the relative importance to the consumer basket, with 43.70%. Moreover, the price of the health index increased by 0.16%, as it has a relative importance of 1.08%, while the prices of goods and services in the group of miscellaneous goods and services showed a slight increase of 0.09%, as it has a relative importance of 6.15% of the total consumer basket and also the prices of the entertainment and culture group increased by 0.07%, as it has a relative importance of 4.24%. On the other hand, the prices of the rest of the groups remained stable during the comparison period, as the relative importance to the consumer basket of the tobacco group is 0.24%, for the communications group 6.00% and for the education group 4.09%.

On the other hand, the annual inflation index of goods and services in the consumer basket in Dubai increased by 2.23% in June 2016, compared to the same month of 2015, as the increase in the school fees impacted the increase in the prices of the education group by 6.74%, while the index of residency, water, electricity, gas and fuel group showed an increase of 3.69%, while the index of the clothes and footwear group increased by 2.37%. Also, The change in the prices of goods and services in the group of miscellaneous goods and services showed an increase of 1.94%, while the prices of the restaurant and hotel group increased by 0.98% and the transport group by 0.56%, while the group of furniture, furnishing and home appliances and their repair increased by 0.49% and the  tobacco group increased by 0.26%. Also, prices of the health group increased by 0.19% and the entertainment and culture group increased by 0.18%. On the other hand, the communications group index decreased by 0. 15% and the prices of the food and beverage group decreased by 0.06%. Table No. 1 shows the inflation and consumer price indices, while figure No. 1 shows the consumer price annual and monthly inflation indices.

The inflation rate in the consumer indices in the main expenditure groups are as follows:

Food and Beverage

The change in the prices of goods and services, compared to last month in the group of food and beverages led to an increase in the group's index by 2.15% because of the increase in the price of fish and seafood by 11.82%, while the prices of vegetables increased by 7.03% and also the prices of sugar, jam, chocolates and confectionaries increased by 0.21%.

On an annual basis, the inflation index of the group decreased by 0.06% due to the decrease in the price of fruits by 3.42%, while the prices of oils and fats decreased by 1.65% and that's of mineral water, soda and juices by 1.47%.

Tobacco

The monthly inflation index of the tobacco group was stable, while the annual index of the group increased by 0.26%. This came as a result of the increase in the tobacco price by 0.32%.

Clothes and Footwear

The change in the price of the goods and services than last month's in the clothes and footwear group le to an increase in its inflation index by 1.57%, due to the increase in ready-made clothes prices by 2.24% and the prices of shoes and footwear by 0.21%. On the annual basis, the index showed an increase of 2.37% as a result of the increase in the prices of ready-made clothes by 3.45%.

Residency, water, electricity, gas and fuel

When monitoring the prices of the Residency, water, electricity, gas and fuel group, it was noticed that their monthly inflation index increased by 0.39% as a result of the increase in the price of the rents paid by tenants increased by 0.46%, which comes as part of the increase that Dubai generally witnesses. Also, there was an increase in the price of goods and services which was reflected on the increase of the annual inflation index of the group by 3.69%. This came as a result of the increase in the rents paid by tenants by 4.41% as part of the increase that Dubai generally witnesses and the increase in the price of dry and solid fuels by 0.76%.

Furniture, furnishing and Home Appliances and their Repair

The price of the goods and services in the furniture, furnishing and home appliances and their repairs increased, resulting in the increase of the inflation index on the monthly basis by 0.31%. This increase is caused by the increase in the prices of home services by 0.68%.

As regards the annual index, it increased for this group by 0.49% due to the increase in the prices of pots, metal and glass kitchenware and tableware by 6.17%. Also, the prices of the carpet and floor coverings increased by 2.79%., while the prices of small, diverse accessories (home lighting accessories) increased by 1.75%.

Health

It was noticed that the monthly inflation index for the health group increased by 0.16%, due to the increase in the prices of dental services by 3.87%, the prices of doctor and nursing service by 2.56% and medical tests and x-ray by 1.37%, while on the annual level, it recorded an increase of 0.19% due to the increase in the prices of dental services by 3.87%, the prices of doctor and nursing service by 2.56% and medical products by 2.25%.

Transport

The transport group increased by 2.09% in the monthly inflation index, due to the increase in the prices of air flights by 16.64% due to the summer and vacation season, while the fuels and oils for transportations increased by 4.13% due to the decision of the Ministry of Energy to free the price of fuels in the State.

On an annual basis, the inflation index also increased by 0.56% due to the index's being affected by the increase in the price of air flights by 3.67%, while the price of land transportation increased by 2.32% and that's of fuels and oils for transportations by 1.18% due to freeing the fuel prices in the State since August 1st, 2015.

Communications

It was noticed that the monthly inflation index for the communications group was stable, while on the annual level, it recorded a decrease of 0.15% due to the decrease in the prices of wired and wireless communication devices by 12.61%, as manufacturers compete to produce the latest trends. Also, the mail service prices decreased by 0.73%.

Entertainment and Culture

The monthly inflation index of the entertainment and culture group slightly increased by 0.07%, due to the increase in the price of stationary and painting items by 1.05% and the prices of the audio and video devices by 0.36%. In the same pattern, the annual inflation index in the group increased to 0.18% due to the increase in the price of cultural services by 3.09%, while the prices of books increased by 0.42%.

Education

The monthly inflation index of the education group was stable and did not witness any change, due to the nature of the school year in Dubai. As regards school fees on an annual basis, it witnessed an increase in the inflation index of the education group by 6.74%, as the private lesson prices witnessed the highest increase by 9.09%. Also, the school fees for the secondary education increased by 6.91%, while the increase in the school fees of kindergarten and elementary school by 6.68% led to the general increase in the group index.

Restaurants and Hotels

The restaurant and hotel group witnessed an increase in the monthly inflation index by 0.45%, due to the increase in the price of restaurants and cafes by 0.51%, while on the annual basis, the inflation index showed an increase in the group by 0.98% due to the increase in the price of hotel accommodations by 11.59% and restaurants and cafes by 0.96%.

Miscellaneous Goods and Services

The group of miscellaneous goods and services witnessed an increase in the prices of goods and services in the group, leading to an increase in the monthly inflation index of 0.09% due to the increase in the prices of jewelry, accessories and watches by 1.17% and the prices of personal care products and appliances increased by 0.08%.

The annual index of the group increased by 1,94%, due to the increase in the vehicle insurance prices by 6.90%, since insurance companies were obliged to pay ambulance service companies since March, 2015, leading to an increase in the price of insurance policies. Also, the prices of jewelry, accessories and watches increased by 4.32% and the prices of personal care products increased by 3.03%, leading to increasing the index to that level.

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