Reports released on Wednesday by the Dubai Statistics Center states that in comparison to July 2016, there was an escalation rate of o.38% in August.
It is claimed that this escalation is as a result of an increase in the prices of clothing and footwear by 1.64%; food and beverage and miscellaneous goods and services(both 1.56%); and housing, water, electricity, gas and fuel 0.16%. Furthermore, there was an increase in the prices of tobacco products and transportation which increased to 0.13% and 0.03% respectively.
Nonetheless, there was also a decrease in other products while some prices remain constant in August. Recreation and culture by o.10%; communication by 0.04%’ and furniture, furnishing and home appliances and their repair by 0.03%. The prices that remained constant as compared to July 2016 included education and health.
However, in August 2016, there was an escalation rate of 2.5% in comparison to previous years. This increase is as a result of an increase in the prices of education 7.24%; clothing and footwear by 6.81%; housing, water and electricity, gas and fuel by 4.66%, and miscellaneous goods and services by 3.67%.
Also the food and beverages group accumulated an increase of 2.72% and restaurant and hotel prices maximized by 0.34%.
Meanwhile there was a decrease in transport by 5.15%, and 1% in the furniture, furnishing and home appliances and their repair group.
But, with all the increase and decrease taking place, the escalation rate in Dubai for August was at 2.440%. During the course of the first eight month of this year, there had been a 6.42% in education as compared to that of 2015. There was also a 4.69% increase in housing, water, electricity, gas and fuel; miscellaneous goods and services 2.13%; health 0.77%. In addition, there was a decrease in the prices of tobacco products by 1.10% and 0.24% respectively.