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Dubai inflation rate continues to record negative rates

Dubai inflation rate

Dubai inflation rate reached -4.4%, said Dubai Statistics Center (DSC). By that, inflation have continued to record negative rates for the 26th consecutive month.

DSC said the weight of the housing, water, electricity, gas and fuel section represents 44%, and its inflation rate is -1.8%. The transportation section represents 11%, with an inflation rate of -6.7%.

Clothing and footwear sector constituted 2%, with an inflation rate of -2.6%. The weight of the food and beverage division constituted 13%, with an inflation rate of 0.9%.

The education sector weighed 8%, and had an inflation rate of 0.4%.

Dubai Inflation rate for December

In December 2020, the inflation rate declined to -4.32%, on an annual basis.

Dubai inflation rate reached 104.01 points last year. It was about 102.14 points in December, compared with 102.53 points in November.

The decline in the inflation rate in 2020, supported by the decline in the prices of clothes and footwear by about 3.36%, and the decrease by 6.21% for the housing, water, electricity, gas and fuel division.

Transportation prices declined by 6.71% and prices of entertainment decreased by 10.27%. Various goods and services declined by 0.41%.

New record

UAE consumer price index in the UAE witnessed an increase during December, reaching 105.97 points, with an increase of 0.09%.

According to data released by the Federal Competitiveness and Statistics Center (FCSC), the annual inflation rate in the UAE in November of 2020 was 105.87 points.

FCSC attributed the increase in the annual inflation rate to improved spending on 9 of the 13 sectors that make up the index.

The index is a statistical means of measuring the changes in the prices of goods and services during two time periods.

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