ABU DHABI 13 June 2017: The inflation rate in consumer prices in the UAE during the first five months of 2017 stood at 2.2 per cent, according to Statistics Centre- Abu Dhabi, Scad.
This means that your dirham now buys 2.2 per cent less than it could in the beginning of last year.
The relative change rate in consumer prices during May hit 2.0 per cent as compared with the same month last year, Scad stated in recent report, attributing the increase to a 3.5 per cent rise in prices of housing, water, electricity, gas and other types of fuels, which accounted for 55.3 per cent of the total price hike during the first five months of the year comparatively with the same period in 2016, said Wam.
The hike in transportation prices claimed 33.1 per cent of the total rise during the first five month of 2017 as compared to the same period in 2016.
Prices in the recreation and culture category dropped by 9 per cent during the first five months comparatively with the same period in 2016, contributing by 19.3 per cent to reducing the inflation rise.
By Rajive Singh