The inflation rate in consumer prices for the first eight months of 2014 was 2.9%, compared with the same period of 2013, as shown by the increase in the CPI to 127.4 points during the first eight months of 2014, up from 123.8 points during the same period of 2013, according to data released by Statistics Centre – Abu Dhabi (SCAD) today.
The CPI increased by 3.5% in August 2014, compared with the same period of 2013, as shown by the increase in the CPI from 125.0 points in August 2013 to 129.3 points in August 2014.
The CPI increased by 0.5% in August 2014 compared with July 2014.
An overall rise of 2.9% in consumer prices during the first eight 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 2.9% for households of the middle welfare quintiles and by 3.0% for the top quintile welfare quintiles.
The rise in consumer prices for the first eight months of 2014 compared with the same period in 2013, pushed up consumer prices for citizen households by 3.1%, and by 2.8% for non-citizen households and 2.2% for share households.
Consumer Price Index (CPI) for the First Eight months of 2014 (2007=100) During the first eight months of 2014, the average consumer prices rose by 2.9% compared with the same period of 2013, with the CPI for the first eight months of 2014 at 127.4 points, compared with 123.8 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 eight months of 2014 compared with the same period of 2013, contributing 39.8% to the change. This contribution resulted from an increase of 3.1% in the prices of this group.
The second highest contributor to the overall increase in the CPI over the first eight months of 2014 was the ‘Furnishings, household equipment and routine household maintenance’ contributed 16.2% to the overall increase in the CPI during the first eight months of 2014 compared with the same period of 2013.
The ‘Food and beverages’ group, which accounted for 14.3% 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 5.1% during the first eight months of 2014 compared with the same period of 2013. This group contributed 7.8% of the total increase achieved by all groups.
Comparing the CPI of August 2014 with the CPI of August 2013 The average consumer prices increased by 3.5% in August 2014 compared with August 2013, with the CPI at 129.3 points in August 2014, up from 125.0 points in August 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 August 2014 compared with August 2013, were ‘Furnishings, household equipment and routine household maintenance’ with 13.0%, and followed by ‘Miscellaneous goods and services’ with 5.2%, ‘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 August 2014 with the CPI of July 2014 The average consumer prices increased by 0.5% in August 2014 compared with July 2014. This overall increase in prices between the two months reflects the net movement (increases and decreases) of consumer prices during the periods compared.
Comparing the average CPI by household welfare level for the first eight months of 2014 with the same period of 2013 The rise of 2.9% in consumer prices during the first eight 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 2.9% for households of the middle quintiles and 3.0% for households of the top welfare quintile.
Comparing the average CPI by household welfare level for the month of August 2014 with August 2013 The 3.5% rise in consumer prices in August 2014 compared with August 2013 caused increase in consumer prices for households in the bottom welfare quintile of 2.4%. The corresponding rise for other welfare levels was 3.5% for households of the middle quintiles and 3.7% for households of the top welfare quintile.
Comparing the average CPI by household welfare level for the month of August 2014 with July 2014 In August 2014, consumer prices increased by 0.5% compared with July 2014. This caused a increase of 0.7% in consumer prices for households in the bottom welfare quintile, and middle welfare quintile by 0.6% and by 0.3% in the top welfare quintile.
Comparing the average CPI by household type for the first eight months of 2014 with the same period of 2013 The 2.9% rise in consumer prices for the first eight months of 2014 compared with the same period of 2013, pushed up consumer prices for citizens by 3.1% and non-citizen households by 2.8%, and share households by 2.2%.
Comparing the average CPI by household type for the month of August 2014 with August 2013 The 3.5% rise in consumer prices for August of 2014 compared with the same period of 2013, pushed up consumer prices for citizen households by 3.9%, non-citizen households by 3.2% and share households by 2.4%.
Comparing the average CPI by household type for the month of August 2014 with July 2014 The 0.5% increase in consumer prices for August 2014 compared with July 2014, increased the consumer prices for citizen by 0.5%, and non-citizen by 0.4%, and share households by 0.6%.
CPI by Region The rise of 2.9% in consumer prices for the first eight 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 eight months while the Al-Ain region contributed 24% and the Al Gharbia region 7% of the total increase during the period.
The inflation rate in the Abu Dhabi region increased by 3.5% in August 2014, compared with the same month in 2013.
The CPI increased by 0.5% in August 2014, compared with July 2014. The major groups that increased in August 2014 compared with July 2013 were ‘Food and beverages’ by 3.0%, and ‘Recreation and culture’ by 2.1%.
Consumer Price Index – Al Ain Region The inflation rate in the Al Ain region increased by 3.4% in August 2014, compared with the same month in 2013.
The CPI increased by 0.3% in August 2014, compared with July 2014.The major group that increased in August 2014 compared with July 2014 was ‘Food and beverages’ by 1.2%.
Consumer Price Index – Al Gharbia Region The inflation rate in the Al Gharbia region increased by 3.0% in August 2014, compared with the same month in 2013.
The CPI increased by 0.7% in August 2014, compared with July 2014, major group that increased in August 2014 compared with July 2014 was ‘Food and beverages’ by 3.1%.
Source : WAM News Agency for United Arab Emirates
