Dubai – Mubasher: Dubai’s inflation rate rose to 2.01% year-on-year in May after three months of consecutive falls.
This was mainly driven by the introduction of the value-added tax (VAT) at 2.69%, according to data released by the Dubai Statistics Centre (DSC).
It is worth noting that the consumer price index (CPI) had been observed at 2.33%, 1.8%, and 1.79% in February, March, and April, respectively.
The prices of tobacco were the highest in May, surging 73.4%, followed by the prices of restaurants and hotels which rose by 10.8%, while transportation services grew by 10.1%.
Meanwhile, the prices of ready-made clothing, telecommunication services, entertainment and cultural services,increased by 5.58%, 5.47%, 4.05%, respectively. Moreover, food and beverage prices went up 3.62%, furniture and home appliances rose 3.29%, educational services added 3.23%, and goods and different services increased 0.9%, data by the DSC showed.
On the other hand, the prices of the housing services, water, electricity, gas, and fuel segment slid to 2.3% year-on-year.
