Dubai inflation falls to 6.04% in August
The annual inflation rate in Dubai fell to 6.04 percent in August, from 7.1 percent in July, according to data from the Dubai Statistics Center (DSC).
Findings revealed that the 37.1 percent increase in entertainment and sports prices and the 26.96 percent increase in transportation prices had the greatest influence on the inflation rate in Dubai in August.
In July, the cost of entertainment and transportation pushed Dubai’s inflation rate to its highest level since the beginning of the year.
In addition, the consumer price index fell 0.75 percent month on month, the first drop in nearly 7 months, specifically since February 2022, driven by price declines in four major spending categories: transportation services (7.69 percent), entertainment, sports, and culture (4.51 percent), restaurants and hotels (0.30 percent), and information and communications (0.04 percent).
Clothing and footwear prices rose by 1.68 percent, while housing, water, electricity, gas, and fuel prices climbed by 0.64 percent. Food and beverage prices surged by 0.20 percent, while personal care, social protection, and miscellaneous goods prices rose by 0.20 percent.
Moreover, household appliances and repair prices posted a 0.02 percent increase, while tobacco, health, insurance, financial services, entertainment, sports, and culture prices rose by 0.02 percent.