Statistics from the Federal Competitiveness and Statistics Centre revealed that the Consumer Price Index (CPI) at the end of 2021 reached 108.62, compared to 105.97 in December 2020, which puts the inflation rate at 2.5 percent year-on-year, and at 0.02 percent in December 2021 compared to November.
The 2021 FCSC report showed that the rate of inflation in food and beverages stood at 3.71 percent, with that of tobacco at 0.65 percent, clothing and shoes at 0.51 percent, while housing, water, electricity and gas saw a decrease of 2.58 percent. Household fixtures and equipment recorded a 2.13 percent inflation rate, while that of health services stood at 0.45 percent, communications at 0.13 percent. Education was down by 0.20 percent, restaurants and hotels saw a rise of 1.60 percent, and miscellaneous goods and services decreased by 1.02 percent.
The report also revealed Abu Dhabi recorded an inflation rate of 0.08 percent in December 2021 compared to November, while the inflation rate in Dubai was 0.09 percent, Sharjah at 0.11 percent, Ajman at 0.11 percent, Umm Al Qaiwain at 0.11 percent, Ras Al Khaimah at 0.13 percent, and Fujairah at 0.10 percent.
These moderate inflation rates highlight the country’s economic stability and the effectiveness of its financial policy.
News Source: Emirates News Agency