Abu Dhabi – Mubasher: The UAE's inflation rose by 2.73% year-on-year and 0.69% month-on-month in December 2017, according to a recent report by the Federal Competitiveness and Statistics Authority.
The prices of the housing, water, gas services segment, which accounts for 34.1% of the UAE Consumer Price Index (CPI), fell 0.32% year-on-year and 0.59% month-on-month, while education prices remained unchanged.
Meanwhile, the telecommunications service prices dropped 1.21% year-on-year and 0.3% month-on-month, and the tobacco segment climbed 70.24% year-on-year and 0.06% month-on-month as prices doubled after introducing the value-added tax (VAT) since October 2017.
Additionally, food and beverage goods recorded a 3.23% year-on-year rise and 0.05% month-on-month increase, representing 14.3% of the CPI.
The prices of transport services levelled up by 9.29% year-on-year and 4.97% month-on-month, while household goods went up by 0.09% month-on-month.
