Inflation drops after fall in rent prices, cultural services shrink 2.38 percent.
The monthly consumer prices inflation rate in Emirate of Dubai dropped 0.94 percent in January 2012 compared to December 2011, due to the decrease in the inflation rate of Food and Non-Alcoholic Beverages group at 3.18 percent, Housing, Water, Electricity, Gas, and other Fuels 2.19 percent, Miscellaneous Goods and Services 0.72 percent, Recreations and Culture 0.52 percent, and Furnishings, Household Equipment and Routine Household Maintenance 0.46 percent, according to the monthly report issued by Dubai Statistics Centre.
The two groups of Restaurants and Hotels and Communication saw a similar increase of inflation at 0.01 percent, Health 0.08 percent, Transport 1.03 percent, and Clothing and Footwear 4.94 percent.
The report said the fall of the Food and Non-Alcoholic Beverages inflation rate was spurred by a fall in prices of vegetables, fruits, and fish and seafood at 14.80 percent, 10.32 percent and 0.95 percent respectively.
Housing, Water, Electricity, Gas, and other Fuels group inflation rate went down because of the dip in prices of rents by 2.91 percent.
As for Health group inflation, it went up due to the rise in the prices of medical services and X-ray by 0.65 percent.
Equipment for the reception, recording and reproduction of sound and pictures led the decline in the Recreation and Culture group inflation rate by 14.31 percent.
Cultural Services shrank by 2.38 percent.
In the Transport group, inflation hiked as prices of motor cycles surged by 9.14 percent, spare parts and accessories for personal transport equipment 6.31 percent, and other services in respect of personal transport equipment 2 percent.