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​Annual Inflation Rate of Dubai Stands at Rise by 2.33% in February 2018

Image: Dsc logo

Image: Dsc logo

 

Dubai Statistics Center (DSC) data revealed that the annual inflation index of goods and services prices in the consumer basket hit a rise level by 2.33% in February 2018 compared to the same period in 2017. Noteworthy, the monthly inflation index of goods and services of February 2018 dropped by 0.14% compared to January 2018.

In details, data released by DSC showed that the annual inflation rate of goods and services prices in the consumer basket hit a rise level by 2.33% in February 2018 compared to the same period in 2017 following the elapse of two months of putting the VAT in place as of January 2018.

According to DSC's data, which the "Emirates Today" a received a copy of it, change in prices of Goods and Services was influential in the Tobacco Group which soared high by 74.63%, Restaurants and Hotels group by 2.71%, Restaurants and Hotels group by 12.58%, Transportation Group rose by 9.28% and the same applies to Clothing and Footwear Group which rose by 6.59%.

Additionally, the indicator of Communications Group went up by 5.53% during February 2018 compared to February 2017. Likewise, Food and Beverages Group increased by 5.04%, Education Group by 3.95%, Furnishings, Household Equipment and Routine Household Maintenance Group by 2.75% and Health Group by 0.59%.

In the meantime, prices of Recreation and Culture went down by 11.56%, Miscellaneous Goods and Services by 1.16% and Housing, Water, Electricity, Gas and other Fuel decreased by 1.03%.

As for the monthly inflation index, DSC's data show the monthly inflation index of goods and services prices in the consumer basket hit a decline by 0.14% in February 2018 compared to February 2017. This decrease is attributed to a drop in prices of Recreation and Culture Group by 1.38% and the same to Clothing and Footwear Group by 0.97%.

Data also revealed that there was a decline in Food and Beverages Group by 0.63% and Housing, Water, Electricity, Gas and other Fuel by 0.34%. Meanwhile, prices of Tobacco, Health and Education groups witnessed no changes during February 2018 compared to January 2018.

However, prices of Furnishings, Household Equipment and Routine Household Maintenance Group went up by 1.71% in February 2018 compared to January 2018, and prices of Transportation Group increased by 0.45%.

 

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