Wednesday, Sep 21, 2016

Dubai: Dubai’s monthly inflation rate for August 2016 was up 0.38 per cent compared to July 2016, according to a report released on Wednesday by the Dubai Statistics Centre (DSC).

The increase was attributed to a rise in prices of clothing and footwear by 1.64 per cent; food and beverage and miscellaneous goods and services (both by 1.56 per cent); and housing, water, electricity, gas and fuel (0.16 per cent). Additionally, prices of tobacco products and transportation grew 0.13 per cent and 0.03 per cent, respectively.

However, prices of other groups decreased month-on-month in August: recreation and culture by 0.10 per cent; communication by 0.04 per cent; and furniture, furnishing and home appliances and their repair by 0.03 per cent. Education and health prices were stable last month compared to July 2016.

Meanwhile, the annual inflation rate was 2.5 per cent in August 2016, when comparing year-on-year prices, according to the report. This was due to the rise in prices of education by 7.24 per cent; clothing and footwear by 6.81 per cent; housing, water, electricity, gas and fuel by 4.66 per cent; and miscellaneous goods and services by 3.67 per cent.

The food and beverages group recorded an increase of 2.72 per cent, and restaurant and hotel prices increased by 0.34 per cent.

Year-to-August

A price drop of 5.15 per cent was recorded in transport, and 1 per cent in the furniture, furnishing and home appliances and their repair group.

However, Dubai’s year-to-August 2016 inflation rate stood at 2.40 per cent. Prices rose 6.42 per cent in education during the first eight months of this year compared to the same period in 2015; housing, water, electricity, gas and fuel (4.69 per cent); miscellaneous goods and services (2.13 per cent); and health (0.77 per cent). Prices dropped for transport and tobacco products by 1.10 per cent and 0.24 per cent respectively.

Staff Report

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