Inflation rate at 2.2 percent in first five months of 2017
The inflation rate in consumer prices in the UAE during the first five months of 2017 stood at 2.2 percent, according to Statistics Centre- Abu Dhabi, SCAD. The relative change rate in consumer prices during May hit 2.0 percent as compared with the same month last year, SCAD stated in recent report, attributing the increase to a 3.5 percent rise in prices of housing, water, electricity, gas and other types of fuels, which accounted for 55.3 percent of the total price hike during the first five months of the year comparatively with the same period in 2016.
The hike in transportation prices claimed 33.1 percent of the total rise during the first five month of 2017 as compared to the same period in 2016.
Prices in the recreation and culture category dropped by 9.00 percent during the first five months comparatively with the same period in 2016, contributing by 19.3 percent to reducing the inflation rise.
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