CPI edged down 0.2% in June: SCAD

ABU DHABI, Consumer prices declined by 0.2% in June 2019 compared with price levels in the previous month of May, according to a report issued by Statistics Centre � Abu Dhabi (SCAD) on the Consumer Price Index (CPI) and the inflation rate in the Emirate of Abu Dhabi for the month of June and the first 6 months of 2019, with the year 2014 fixed as the base year. It also details CPI results by welfare level, household type.

As the report indicates, consumer prices decreased by the 0.2% in June 2019 compared with the same month of the previous year, as shown by the fall in the CPI from 111.9 points in June 2018 to 111.6 points in June 2019. The CPI also declined by 0.2% in June 2019 compared with the previous month of May, as shown by the fall in the CPI from 111.9 points in May 2019 to 111.6 points in June 2019.

”The downward trend is again observed in the average CPI for the first half of the current year, which saw the CPI fall 0.6% to 111.3 point, down from 111.9 points for the first six months of 2018.

The main expenditure are classified by the International Classification of Individual Consumption According to Purpose (COICOP),” the report noted.

The housing, water, electricity, gas and other fuels group, which decreased by 3.5% over the same period of 2018, contributing 204.0 points to the overall drop in the CPI during first six months of 2019 compared with the same period of the previous year. The next largest contributor to the fall in consumer prices during this period was the transport group, which contributed 154.2 points to the overall decrease in the CPI during the first six months of 2019 compared with the same period of 2018.

The prices of this group declined by 5.8% over the same period. Another large contributor to the overall fall in the CPI between the periods compared was the “Foods and beverages group”, which contributed 33.8 points to the overall decline in consumer during the first half of 2019 as the group’s prices dropped by 1.6%.

On the other hand the ‘Recreation and Culture’ group offset 126.5 points from the overall fall in the CPI during the period January-June 2019, reflecting a 15.5% rise in the prices of this group during first 6 months of 2019 compared with the same period of the previous year.

Since the impact of inflation varies with the household welfare level, a breakdown of the overall fall in consumer prices during first six months of 2019 compared with same period of 2018 indicates a decrease of 0.9% in consumer prices for households of the bottom welfare level. The corresponding falls for households of the middle and the top welfare levels were 0.7% and 0.3%, respectively.

Analyzing the overall fall in consumer prices during first half of 2019 by household type, SCAD’s report shows a 0.6% fall in consumer prices for citizen and non-citizen households for the aforesaid period compared with the first six months of 2018. The corresponding drop for share household types was 0.9%.

Source: Emirates News Agency

Top