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UAE: A decrease in the prices of seven commodity and service groups and a rise in others.. Get to know them
UAE: A decrease in the prices of seven commodity and service groups and a rise in others.. Get to know them

The Federal Competitiveness and Statistics Center reported a decrease in the inflation rate in consumer prices in the country, on an annual basis during last July, by 0.02% compared to the same month of 2020, as a result of a slight decrease in the prices of seven major commodity and service groups

The Federal Competitiveness and Statistics Center reported a decrease in the inflation rate in consumer prices in the country, on an annual basis during last July, by 0.02% compared to the same month of 2020, as a result of a slight decrease in the prices of seven major commodity and service groups, coinciding with a significant increase in the corresponding groups. Others, led by “transportation,” “recreation and culture,” and “household fixtures and equipment.”

The groups whose prices decreased, constituted 67.5% of the total consumer spending, while the groups whose prices increased constituted the remaining 32.5%.

The center explained, in the "July 2021 Inflation Report", which was issued yesterday, and covers the change in the prices of 12 main consumer goods and services, that the general index reached 106.62 points last July, compared to 106.64 points in July 2020.

The report indicated that the decrease in annual inflation came as a result of the decrease in the prices of seven main commodity and service groups: housing, water, electricity and gas group, whose prices fell by 4.3% and constituted 34.1% of consumer spending, in addition to the group of food and beverages whose prices fell by 1.5% and constituted 14.3% of Consumer spending.

The prices of clothes and shoes decreased by 8.8% and constitute 3.2% of spending, in addition to a decrease in the prices of restaurants and hotels by 0.3% and constitute 4% of the volume of spending.

The prices of the communications group also decreased by 0.04%, which constitutes 5.4% of spending, in addition to a decrease in the prices of the tobacco group by 0.01%, which constitutes 0.3% of spending, and the prices of a group of various goods and services decreased by 2.4%, which constitutes 6.2% of spending.

On the other hand, the report of the "Federal Competitiveness and Statistics Center" pointed to an increase in the prices of five other commodity groups, namely the group of transport services, whose prices rose by 10.6% and constitute 14.6% of consumer spending, and the prices of the recreation and culture group increased by 17.2% and constituted 3.2%, While the prices of the education group increased by 1.2% and constitute 7.7% of spending, in addition to the increase in the prices of the household supplies and equipment group by 1.1%, while the prices of health services increased by 0.5%.