The inflation rate in consumer prices for the first seven months of 2014 was 2.8%, compared with the same period of 2013, as shown by the increase in the CPI to 127.1 points during the first seven months of 2014, up from 123.7 points during the same period of 2013, according to Statistics Centre – Abu Dhabi (SCAD).
The CPI increased by 3.2% in July 2014, compared with the same period of 2013, as shown by the increase in the CPI from 124.7 points in July 2013 to 128.7 points in July 2014, SCAD said in its monthly report for July.
The CPI decreased by 0.1% in July 2014 compared with June 2014.
An overall rise of 2.8% in consumer prices during the first seven months of 2014 compared with the same period in 2013, has led to an increase of 2.1% in consumer prices for households of the bottom welfare quintile over the same period of comparison. While the consumer prices grew by 2.8% for households of the middle welfare quintiles and by 2.9% for the top quintile welfare quintiles.
The rise in consumer prices for the first seven months of 2014 compared with the same period in 2013, pushed up consumer prices for citizen households by 3.0%, and by 2.7% for non-citizen households and 2.2% for share households.
Consumer Price Index (CPI) for the First Seven months of 2014 (2007=100) Percentage changes in the CPI During the first seven months of 2014, the average consumer prices rose by 2.8% compared with the same period of 2013, with the CPI for the first seven months of 2014 at 127.1 points, compared with 123.7 points for the same period of 2013. This rise in prices reflects the net change in the consumer basket prices (resulting from upward and downward movement) during the periods compared.
The ‘Housing, water, electricity, gas and other fuels’ group accounted for the largest rise in the index during the first seven months of 2014 compared with the same period of 2013, contributing 38.4% to the change. This contribution resulted from an increase of 2.9% in the prices of this group.
The second highest contributor to the overall increase in the CPI over the first seven months of 2014 was the ‘Furnishings, household equipment and routine household maintenance’ contributed 15.9% to the overall increase in the CPI during the first seven months of 2014 compared with the same period of 2013.
The ‘Food and beverages’ group, which accounted for 14.7 of the overall increase prices of this group increased by 2.3% compared with the same period of 2013.
The prices of ‘Restaurants and hotels’ rose by 5.5% during the first seven months of 2014 compared with the same period of 2013. This group contributed 8.4% of the total increase achieved by all groups.
CPI of July 2014 Comparing the CPI of July 2014 with the CPI of July 2013 The average consumer prices increased by 3.2% in July 2014 compared with July 2013, with the CPI at 128.7 points in July 2014, up from 124.7 points in July 2013. This increase in prices was due to the net movement (increases and decreases) of consumer prices during the mentioned months.
The most significant groups, which experienced increases in prices during July 2014 compared with July 2013, were ‘Furnishings, household equipment and routine household maintenance’ with 12.9%, and followed by ‘Miscellaneous goods and services’ with 7.8%, ‘Alcoholic beverages and tobacco’ with 6.4%, ‘Housing, water, electricity, gas and other fuels’ with 4.4%, and ‘Restaurants and hotels’ with 4.2%.
Comparing the CPI of July 2014 with the CPI of June 2014 The average consumer prices decreased by 0.1% in July 2014 compared with June 2014. This overall decrease in prices between the two months reflects the net movement (increases and decreases) of consumer prices during the periods compared.
CPI by household welfare level Comparing the average CPI by household welfare level for the first seven months of 2014 with the same period of 2013 The rise of 2.8% in consumer prices during the first seven months of 2014 compared with the same period in 2013, resulted in an increase of 2.1% in consumer prices for households of the bottom welfare quintile for the same period of comparison. The corresponding rise for other welfare levels was 2.8% for households of the middle quintiles and 2.9% for households of the top welfare quintile.
Comparing the average CPI by household welfare level for the month of July 2014 with July 2013 The 3.2% rise in consumer prices in July 2014 compared with July 2013 caused increase in consumer prices for households in the bottom welfare quintile of 2.1% and by 3.5% in the top welfare quintile, while prices increased by 3.2% for households in the middle quintile.
Comparing the average CPI by household welfare level for the month of July 2014 with June 2014 In July 2014, consumer prices decreased by 0.1% compared with June 2014. This caused a decrease of 0.1% in consumer prices for households in the top welfare quintile.
CPI by household type Comparing the average CPI by household type for the first seven months of 2014 with the same period of 2013 The 2.8% rise in consumer prices for the first seven months of 2014 compared with the same period of 2013, pushed up consumer prices for citizens by 3.0% and non-citizen households by 2.7%, and share households by 2.2%.
Comparing the average CPI by household type for the month of July 2014 with July 2013 The 3.2% rise in consumer prices for July of 2014 compared with the same period of 2013, pushed up consumer prices for citizen households by 3.5%, non-citizen households by 3.1% and share households by 2.2%.
Comparing the average CPI by household type for the month of July 2014 with June 2014 The 0.1% decrease in consumer prices for July 2014 compared with June 2014, decreased the consumer prices for citizen and non-citizen households by 0.1%.
CPI by Region The rise of 2.8% in consumer prices for the first seven months 2014 compared with the same period in 2013, resulted from the rise of consumer prices in the regions of Abu Dhabi, Al Ain and Al Gharbia.
The increase in the CPI in the Abu Dhabi region contributed 69% of the total increase during the first seven months while the Al-Ain region contributed 24% and the Al Gharbia region 7% of the total increase during the period.
Consumer Price Index – Abu Dhabi Region The inflation rate in the Abu Dhabi region increased by 3.3% in July 2014, compared with the same month in 2013.
The major groups that increased in July 2014 compared with July 2013 were ‘Furnishings, household equipment and routine household maintenance’ by 13.1%, and ‘Alcoholic beverages and tobacco’ by 7.6%.
The CPI decreased by 0.1% in July 2014, compared with June 2014.
Consumer Price Index – Al Ain Region The inflation rate in the Al Ain region increased by 3.4% in July 2014, compared with the same month in 2013.
The CPI increased by 0.5% in July 2014, compared with June 2014.The major group that increased in July 2014 compared with June 2014 was ‘Food and beverages’ by 2.0%.
Consumer Price Index – Al Gharbia Region The inflation rate in the Al Gharbia region increased by 2.6% in July 2014, compared with the same month in 2013.
The CPI decreased by 0.2% in July 2014, compared with June 2014.
Source : WAM News Agency for United Arab Emirates
