UAE Consumer Price Index rises by 2.05% in May

The overall Consumer Price Index (CPI) in U.A.E. increased by 2.05% in May 2014 compared to figures of May the previous year, by 0.20% up from its value at the end of April 2014, and by 1.84% during the first five months of 2014, compared to the same period of 2013, showed a new report released yesterday by National Bureau of Statistics (NBS).
NBS, in its report yesterday, attributed the 2.05% rise in prices during May 2014 to the rise taking place in the prices of all major groups in the consumer basket in U.A.E.
Prices in the housing group increased by 2.62% in May 2014, accounting for 50% of the total rise of CPI, followed by the prices of food and non-alcoholic drinks, which rose by 2.12% contributing 14% to the general index, while prices in the household furnishings and equipment group went up by 4.74% during the same period (9.70% of the CPI rise).
Other groups include education ( 4.56%), transport services (1.05%), restaurants and hotels group (1.19%) while other commodity groups rose between 0.03% - 1%.
The findings of the CPI for May 2014 at the U.A.E. level indicate increases in the following major expenditure groups: - Food and soft drinks +0.86 % - Furniture and household goods +0 .40% - Miscellaneous goods and services +0.13% - Medical care +0.12% - Recreation and culture +0.10% - Transportation +0.10% - Communications +0.04% - Housing +0.04% CPI also showed a decrease by 0.02% in prices in the restaurants and hotels group.