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DSC: A Rising CPI at 4.3%

Image : Shopping Mall
Image : Shopping Mall

A report issued by Dubai Statistics Center has recently shown an increase in the Consumer Price Index 4.3% during the 1st quarter of 2015, compared to the same period of 2014.

It's also been observed, according to the report, that "the housing, water, electricity, gas and fuel group" has increased by 7.51%, indicating such a group as the highest when it comes to the relative importance in the consumer basket at a relative importance of 43.7%.

The report has also shown a drop in the inflation index for the food and non-alcoholic beverages group.

Price Index

Speaking in detail, a report form Dubai Statistics Center has recently shown an increase in the consumer price index by 4.3% during the 1st quarter of 2015, compared to the same period of 2014.

The said increase is attributed, according to the report, to a 9.95% price rise in "the group of furniture, furnishings, household items and maintenance", indicating that such a group constitutes 3.34% of the overall relative importance in the consumer basket, and a 8.44% price rise in "the clothing and footwear group" whose relative importance reached 5.52%, whereas "the group of housing, water, electricity, gas and fuel" has witnessed a 7.51% price increase, and that group in considered the highest when it comes to the relative importance in the consumer basket at a relative importance of 43.70%.

"Hotels and restaurants group" whose relative importance reaches 5.48% has also witnessed a 2.98% price increase. Prices of "The group of miscellaneous goods and services", whose relative importance has reached 6.15%, have also increased by 2.70% leading to a rise in the inflation index.

As per the said report, the rise of tuition fees has led to a rise of the education group inflation index by 2.6%, pointing out that the relative importance of such a group has reached 4.09% of the total consumer basket. Prices of "Telecommunication services group" have also increased by 2.34%, it's worth noting that its relative importance has reached 6%. "Transport prices" have increased by 1.41%, and its relative importance has reached 9.08%; whereas, in the "health group" whose relative importance has reached 1.08% of the total consumer basket, prices of services have only increased by 0.86%.

The report has pointed out a 1.37 decline in "the food and non-alcoholic beverages" price index, such a group has reached a relative importance of 11.08% of the total consumer basket. As for the recreation and culture group, inflation index of the group has dropped by 0.49% with a 4.24% relative importance.

Food and Beverages

According to the DSC, the price decrease of "food and non-alcoholic beverages" has been brought about as a result of the declining prices of fish and seafood by 13.57% due to the good weather during the 1st quarter of 2015, compared to the first quarter of 2014; the decline of vegetable prices by 4.4%, due to a GDP rise, has also led to a decline of the inflation index of the group, and so has done the decline of fruit prices by 2.88%.

An 11.93% increase in tobacco prices has also been observed, noting that such an increase has been noticed since last July in all outlets.

Clothing and housing   

Due to an 11.57% increase in the prices of ready-made garments, "clothing and footwear group" price index has increased. The group has also been influenced by the 2.80% increase of shoes and footwear prices and the 2.29% increase of fabrics prices, leading the group price index to increase to such a level.

The report has also indicated that, upon monitoring the prices of the "housing, water, electricity, gas and fuel", it's been noticed that the inflation index has risen by 7.51% as a result of increased rents at 9.24%. The increased prices of liquid fuel by 1.17% has also led the group index to increase, not to mention the 0.45% increase in the prices of items, services and house maintenance.

Furniture and household items

As for "the group of furniture, furnishings and household items and maintenance", goods and services price index has increased as a result of a 25.71% price increase of the small household electrical appliances followed by a 19.04 increase in the prices of home services due to the Philippines suspension of the domestic workers supply. Prices of non-durable household appliances have also increased by 2.13%.

Health and transport

According to the DCS report, it's been noticed that the inflation index of the "health services group" has increased by 0.86% as a result of a 7.79% increase prices of medical products and a 4.03% increase in the prices of hospital services, in addition to a 1.04% increase in the physician and nursing services prices.

The "transport group" has also witnessed a 1.41% increase in the inflation rate as it was affected by a 13.85% increase in the prices of land transport following the decision of the Road and Transport Authority on the new tariff for taxi trips within the Emirate since the beginning of last December. Prices of spare parts and accessories have also increased by 7.53%, prices of motorcycle by 4.51% due to the higher number of land trips, which led to an increase in the inflation index.

 Education

As for the education group, inflation rate has reached 2.6% as the tuition fees for the secondary school have reached an all-time high at 3.12%, while in a close percentage, the tuition fees for the kindergarten and the first phase have increased by 3.04%. The 1.14% increase of university tuition fees has also affected the group inflation.

The DCS has pointed out that the Education Cost Index is used for measuring the operational costs at schools, whereas the Education Group CPI is used for measuring the change of the amount of educational fees at schools, universities, in addition to private tuition rates.

Hotels and restaurants

As for "the hotels and restaurant group", The DSC has stated that, after monitoring the prices of goods and services, a 2.98% inflation rise has been noticed as a result of the increased price of restaurants and hotels by 2.99%.

Prices of goods and services listed in "the group of miscellaneous goods and services" have also increased, resulting in raising the group inflation index by 2.7% due to a 5.99% price increase of services that are not classified in another place and a 5.81% price increase of personal care services, in addition to a 3.62% price increase of personal care tools and materials.  

 

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