Rent or food? Where Dubai residents spent most in May

The overall Consumer Price Index (CPI) in UAE increased by 2.05 per cent in May 2014 compared to figures of May the previous year, by 0.20 per cent up from its value at the end of April 2014, and by 1.84 per cent during the first five months of 2014, compared to the same period of 2013, showed a new report released today by National Bureau of Statistics (NBS).

NBS, in its report today, attributed the 2.05 per cent rise in prices during May 2014 to the rise taking place in the prices of all major groups in the consumer basket in UAE.

Prices in the housing group increased by 2.62 per cent in May 2014, accounting for 50 per cent of the total rise of CPI, followed by the prices of food and non-alcoholic drinks, which rose by 2.12 per cent contributing 14 per cent to the general index, while prices in the household furnishings and equipment group went up by 4.74 per cent during the same period (9.70 per cent of the CPI rise).

Other groups include education ( 4.56 per cent), transport services (1.05 per cent), restaurants and hotels group (1.19 per cent) while other commodity groups rose between 0.03 per cent - 1per cent.

The findings of the CPI for May 2014 at the UAE level indicate increases in the following major expenditure groups:

Food and soft drinks +0.86 per cent

Furniture and household goods +0 .40per cent

Miscellaneous goods and services +0.13per cent

Medical care +0.12per cent

Recreation and culture +0.10per cent

Transportation +0.10per cent

Communications +0.04per cent

Housing +0.04per cent

CPI also showed a decrease by 0.02 per cent in prices in the restaurants and hotels group.

At the emirate level, the CPI fluctuated considerably in the various emirates as shown below:

Abu Dhabi +0.18per cent

Dubai  +0.18per cent

Sharjah +0.26per cent

Ajman +0.01per cent

Umm Al Quwain +0.28per cent

Ras Al Khaimah +0.13per cent

Fujairah +0.29per cent

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