Inflation Rate of Dubai Stands at Rise by 1.99% in the first half of 2018
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The inflation rate of the consumer price index (CPI) for the first half of 2018 edged up by 1.99% in the first half of 2018 compared with same period of 2017, the Dubai Statistics Center (DSC) reported.
The report released by DSC showed that a key contributor to the rise in consumer prices during the period under review was the transportation group which accounted for 8.46% per cent of the overall increase in the CPI reflecting a 0.86 per cent surge in inflation. Other groups led to rise in inflation include: food and beverages which rose by 4.72%, leading inflation to increase by 0.57 points and Restaurants and Hotels went up by 11.53%, raising inflation by 0.45 points.
Likewise, Education Group rose by 3.59% pushing inflation to increase by 0.32 per cent, Communications Group went up by 5.5% to trigger off inflation to rise by 0.26 percent, the Tobacco Group rose by 73.8% and the inflation rate increased by 0.24 per cent, the Clothing and Footwear Group edged up by 4.67%, Furnishings, Household Equipment and Routine Household Maintenance Group by 2.65%, and Health Group by 0.55%.
As the results indicate, CPI during June 2018 was driven mainly by the Transport Group, which increased by 6.87 per cent, contributing 0.73 per cent of the overall increase in inflation.
Indeed, other groups led to increase in inflation including Restaurants and Hotels which rose by 10.73 per cent leading inflation to increase by 0.42, Food and Beverages Group rose by 3.19 per cent and inflation rose by 0.39 per cent, Education Group rose by 3.23 per cent pushing inflation rate up by 0.29 per cent, Communications Group increased by 5.43 per cent and inflation rate went up by 0.26 per cent, Tobacco Group by 73.44 per cent leading inflation rate to increase by 0.23 per cent.
Similarly, Furnishings, Household Equipment and Routine Household Maintenance Group increased by 3.15 per cent adding to inflation rate 0.12 per cent, Entertainment and Culture Group went up by 3.25 per cent pushing up inflation rate by 0.06 per cent, Miscellaneous Goods and Services increased by 0.97 per cent leading inflation to increase by 0.06 per cent and health rose by 0.45 per cent.
Meanwhile, the Housing, Water, Electricity, Gas and Fuel Group detracted 26.6 per cent 1.17 percent fall in inflation rate and Clothing and Footwear Group went down by 3.34 per cent leading inflation rate to decline by 0.07 per cent during the period under review.
June Compared to May
CPI ascended in June by 0.18 per cent due to increase in Transportation prices which stood at 3.95 per cent leading the inflation rate to rise by 0.43 per cent. The same applies to Food and Beverages which increased by 1.1 per cent and pushed the inflation rate up to 0.14 per cent, as well a Health which increased by 0.01 per cent.
In contrast, Housing, water, electricity, gas and fuel dropped by 0.43 per cent pushing inflation down by 0.19 points, Clothing and Footwear Group went down by 6.98 per cent leading inflation to drop down by 0.15 per cent, Miscellaneous Goods and Services went down by 0.47 per cent leading inflation rate to go down by 0.03 per cent, Entertainment and Culture Group descended by 0.70 per cent and inflation rate decreased as a result by 0.01 per cent, Communications fell by 0.09 per cent and Restaurants and Hotels by 0.09 per cent.
During the period under review and comparison, tobacco and education prices stabilized at previous levels.
The first half of 2018 witnessed declines in Housing, Water, Electricity, Gas and Fuel prices by 1.67 per cent leading inflation rate to fall down by 0.75 per cent, Entertainment and Culture dropped by 6.88 per cent pushing inflation rate down by 0.15 per cent and Miscellaneous Goods and Services decreased by 0.17 per cent making the inflation rate go down by 0.01 per cent.