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128149
Wed, 06/16/2010 - 13:44
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Abu Dhabi's monthly CPI report shows Abu Dhabi inflation rate at 3.02 last May
Abu Dhabi, June 16, 2010 (WAM)- According to the May issue of the Monthly Consumer Price Index (CPI) Report issued by Statistics Centre - Abu Dhabi (SCAD), the year-over-year inflation rate for May 2010 was 3.02%, as the index accelerated from 114.75 points in May 2009 to 118.22 points in April 2010.
The report also revealed that the average inflation rate in consumer prices for the period January-May 2010 compared to the same period of 2009 was 2.33%, as evident from the advance in the CPI for the period January-May 2010 to 117.81 points, up from 115.12 points over the same period of 2009.
The percentage month-to-month rise in the CPI for May 2010 compared to April 2010 was 0.28%, from 117.89 points in April 2010 to 118.22 points in May 2010.
SCAD's Statistics Division elaborates further, explaining that the 2.33% rise in consumer prices over the first 5 months of 2010 compared to the same period of 2009, reflected the net change in the consumer basket prices (upward and downward movement) during the two periods compared.
According to the report, the "housing, water, electricity, gas and other fuels" group was the top contributor to the overall increase in prices during the first 5 months of 2010, having accounted for 84.6% of that increase. This contribution resulted from a surge of 5.2% in the prices of this group and due the group's sizable weight, which constitutes 37.9% of the total weight of all expenditure groups. The main factor underlying the increase in the average prices of this group was the rise by 5.8% in house rents, which make up 87.7% of the total weight of this group.
The next highest contributor to the overall year-over-year increase in the CPI over the period January-May 2010 was the "Food and non-alcoholic beverages group", which accounted for 26.8% of the rise in the index, due to increases in the prices of most of the subgroups falling under this group, namely "sugar, jam, honey, chocolate and confectionery", which shot up 34.1%, while "meat" prices grew by 10.3%, "pulses" by 6.6%, "foods not elsewhere classified" by 2.9%, "coffee, tea and cocoa" by 2.7% and "fruits" by 2.6%.
The "Education" group accounted for 24.1% of overall increase during the first 5 months of 2010 compared to the same period of 2009, reflecting a hike of more than 20% in education fees. The "transport" group contributed 7.4% to year-over year rise in consumer prices over the reporting period as a result of an increase of 1.9% in its component subgroups, namely, the "transport services" subgroup which advanced 6.6% and the "operation of personal transport equipment" subgroup, whose prices grew by 2.1% due to a rise in the "spare parts and accessories of personal transport equipment" by 2.4%, in addition to an increase of 3.3% in the prices of gasoline and diesel.
On the other hand, some of the main groups that slowed down consumer prices during the first 5 months of 2010 as compared to the same period of 2009. These include the "clothing and footwear," group, which contributed (- 32.9%) to the overall change in prices. The prices of this group retreated by 7.1% as a result of a drop in the prices of the "clothing" and "footwear" subgroups by 6.0% and 19.3%, respectively during the reference period. The "communications" group contributed (-12.8%) to the overall change in consumer prices during the period under review, owing to the drop in the prices of the "telephone and telefax equipment" and the "telephone and telefax services" subgroups by 11.00% and 4.4%, respectively. Lastly, the "miscellaneous goods and services" group contributed (-0.2%) to the overall change in the CPI during reference period, reflecting a decline of 0.1% in the prices of this group.
Compared to May 2009, average consumer's prices advanced 3.02% in May 2010 as the CPI accelerated to 118.22 points in May 2010, up from 114.75 points in May 2009, reflecting the net price movement during the two months under comparison.
The main groups that showed an upward trend in prices during May 2010 compared to May 2009 were the "education" group which advanced 20.1%, followed by the "food and non-alcoholic beverages" group, which rose 6.7%, the "housing, water, electricity, gas and other fuels" group, whose prices showed a surge of (5.5%); and the "transport" group, which climbed 5.1%.
On the other hand the communication group retreated by 11.3% due to a drop in the prices of the "telephone and telefax services", the "mail services" and the "telephone and telefax equipment" subgroups by 11.3%, 9.6% and 6.4% respectively, while the prices of the "clothing and footwear" group declined by 6.4% as the "clothing" and the "footwear" subgroups dipped 5.3% and 17.4%, respectively.
The report points to a relative stability in the prices of most of the main expenditure groups during the month of May 2010 compared to the previous month of April 2010, despite an increases of 3.0% in the "transport" group and 0.2% in the "miscellaneous goods and services" group high rates of "transport" by 3.0% and the high prices of the group, "miscellaneous goods and services" increased by 0.2% have pushed up the CPI by 0.28% in May compared to April 2010. The rise in the prices of the "transport" group resulted from the surge in the prices of oil derivatives, while the increase in the prices of the "miscellaneous goods and services" group was the result of a rise in the prices of "personal effects are not elsewhere classified" by 3.8% due to the rise in the price of gold by about 5.0% during May 2010 compared to the preceding month of April.
As the report explains, an increase in the CPI does not necessarily imply higher prices for all the goods and services that make up the consumer basket, nor does it mean that all goods and services have increased by the same percentage (2.33%). There are goods and services whose prices have risen at rates above the overall rate (2.33%) and others whose rate of increase was below the general average. There are even goods and services whose prices have fallen. However, the net change or the combined outcome of these changes (upward and downward movements) in the prices of the consumer basket in the first 5 months of 2010 compared to the same period in 2009 produced an overall increase in prices by (2.33%).
The consumer price Index (CPI) is offers is one of the critically important inputs for the purposes of planning and research in various disciplines. Statistics centres and agencies in different countries consistently compile these indices, which depend on the prices of a basket of goods and services consumed by the household sector. The figures thus calculated constitute a time series that provides a measure of changes in the cost of living over time.
Therefore Statistics Centre - Abu Dhabi has always taken interest in collecting the prices of those goods and services on a regular basis and publishes the indicators derived from this data, following the methodologies adopted internationally in this field.
To represent all regions of the Emirate, the selected sample of items included in the Consumer Price Index basket uses actual data from the 2007 household income and expenditure survey. The sample of outlets were selected in such a way as to represent points of purchase for a large base of consumers in Abu Dhabi, taking into account the geographical distribution of sources all over the emirate.
The report also revealed that the average inflation rate in consumer prices for the period January-May 2010 compared to the same period of 2009 was 2.33%, as evident from the advance in the CPI for the period January-May 2010 to 117.81 points, up from 115.12 points over the same period of 2009.
The percentage month-to-month rise in the CPI for May 2010 compared to April 2010 was 0.28%, from 117.89 points in April 2010 to 118.22 points in May 2010.
SCAD's Statistics Division elaborates further, explaining that the 2.33% rise in consumer prices over the first 5 months of 2010 compared to the same period of 2009, reflected the net change in the consumer basket prices (upward and downward movement) during the two periods compared.
According to the report, the "housing, water, electricity, gas and other fuels" group was the top contributor to the overall increase in prices during the first 5 months of 2010, having accounted for 84.6% of that increase. This contribution resulted from a surge of 5.2% in the prices of this group and due the group's sizable weight, which constitutes 37.9% of the total weight of all expenditure groups. The main factor underlying the increase in the average prices of this group was the rise by 5.8% in house rents, which make up 87.7% of the total weight of this group.
The next highest contributor to the overall year-over-year increase in the CPI over the period January-May 2010 was the "Food and non-alcoholic beverages group", which accounted for 26.8% of the rise in the index, due to increases in the prices of most of the subgroups falling under this group, namely "sugar, jam, honey, chocolate and confectionery", which shot up 34.1%, while "meat" prices grew by 10.3%, "pulses" by 6.6%, "foods not elsewhere classified" by 2.9%, "coffee, tea and cocoa" by 2.7% and "fruits" by 2.6%.
The "Education" group accounted for 24.1% of overall increase during the first 5 months of 2010 compared to the same period of 2009, reflecting a hike of more than 20% in education fees. The "transport" group contributed 7.4% to year-over year rise in consumer prices over the reporting period as a result of an increase of 1.9% in its component subgroups, namely, the "transport services" subgroup which advanced 6.6% and the "operation of personal transport equipment" subgroup, whose prices grew by 2.1% due to a rise in the "spare parts and accessories of personal transport equipment" by 2.4%, in addition to an increase of 3.3% in the prices of gasoline and diesel.
On the other hand, some of the main groups that slowed down consumer prices during the first 5 months of 2010 as compared to the same period of 2009. These include the "clothing and footwear," group, which contributed (- 32.9%) to the overall change in prices. The prices of this group retreated by 7.1% as a result of a drop in the prices of the "clothing" and "footwear" subgroups by 6.0% and 19.3%, respectively during the reference period. The "communications" group contributed (-12.8%) to the overall change in consumer prices during the period under review, owing to the drop in the prices of the "telephone and telefax equipment" and the "telephone and telefax services" subgroups by 11.00% and 4.4%, respectively. Lastly, the "miscellaneous goods and services" group contributed (-0.2%) to the overall change in the CPI during reference period, reflecting a decline of 0.1% in the prices of this group.
Compared to May 2009, average consumer's prices advanced 3.02% in May 2010 as the CPI accelerated to 118.22 points in May 2010, up from 114.75 points in May 2009, reflecting the net price movement during the two months under comparison.
The main groups that showed an upward trend in prices during May 2010 compared to May 2009 were the "education" group which advanced 20.1%, followed by the "food and non-alcoholic beverages" group, which rose 6.7%, the "housing, water, electricity, gas and other fuels" group, whose prices showed a surge of (5.5%); and the "transport" group, which climbed 5.1%.
On the other hand the communication group retreated by 11.3% due to a drop in the prices of the "telephone and telefax services", the "mail services" and the "telephone and telefax equipment" subgroups by 11.3%, 9.6% and 6.4% respectively, while the prices of the "clothing and footwear" group declined by 6.4% as the "clothing" and the "footwear" subgroups dipped 5.3% and 17.4%, respectively.
The report points to a relative stability in the prices of most of the main expenditure groups during the month of May 2010 compared to the previous month of April 2010, despite an increases of 3.0% in the "transport" group and 0.2% in the "miscellaneous goods and services" group high rates of "transport" by 3.0% and the high prices of the group, "miscellaneous goods and services" increased by 0.2% have pushed up the CPI by 0.28% in May compared to April 2010. The rise in the prices of the "transport" group resulted from the surge in the prices of oil derivatives, while the increase in the prices of the "miscellaneous goods and services" group was the result of a rise in the prices of "personal effects are not elsewhere classified" by 3.8% due to the rise in the price of gold by about 5.0% during May 2010 compared to the preceding month of April.
As the report explains, an increase in the CPI does not necessarily imply higher prices for all the goods and services that make up the consumer basket, nor does it mean that all goods and services have increased by the same percentage (2.33%). There are goods and services whose prices have risen at rates above the overall rate (2.33%) and others whose rate of increase was below the general average. There are even goods and services whose prices have fallen. However, the net change or the combined outcome of these changes (upward and downward movements) in the prices of the consumer basket in the first 5 months of 2010 compared to the same period in 2009 produced an overall increase in prices by (2.33%).
The consumer price Index (CPI) is offers is one of the critically important inputs for the purposes of planning and research in various disciplines. Statistics centres and agencies in different countries consistently compile these indices, which depend on the prices of a basket of goods and services consumed by the household sector. The figures thus calculated constitute a time series that provides a measure of changes in the cost of living over time.
Therefore Statistics Centre - Abu Dhabi has always taken interest in collecting the prices of those goods and services on a regular basis and publishes the indicators derived from this data, following the methodologies adopted internationally in this field.
To represent all regions of the Emirate, the selected sample of items included in the Consumer Price Index basket uses actual data from the 2007 household income and expenditure survey. The sample of outlets were selected in such a way as to represent points of purchase for a large base of consumers in Abu Dhabi, taking into account the geographical distribution of sources all over the emirate.
