3.33% rise in monthly inflation index in Ras Al Khaimah

The monthly inflation rate in Ras Al Khaimah, which measures the prices of food and consumer goods, increased by 3.51% during November of last year 2021, compared to the same period in 2020, for about 12 commodity groups that include 1,200 food and consumer items.Seven groups contributed to the rise in the inflation rate, compared to two groups that witnessed a varying decrease, according to periodic data issued by the Ras Al Khaimah Center for Statistics and Studies.

The indicators showed the largest annual increase in transportation services by 15.5% due to the increase in oil prices, while the housing, water, electricity and gas group recorded an increase of 0.58%, due to an increase in rental prices in Ras Al Khaimah, while the rate of increase in food and beverages reached 3.33%, and the clothing and footwear group index 2.15 %, restaurants and hotels 1.51%, recreation and culture 5.51% due to the high prices of wedding halls.

On the other hand, the consumer price index for the miscellaneous goods and services group decreased by 3.33% due to the decrease in gold prices, and the household supplies and equipment group index decreased by 0.82%.

The director of Al-Masar Center for Economic Studies, expert Najeeb Al-Shamsi, said that the rise in the measurement index and the rise in it of important groups such as food and beverages, housing, and transportation comes as a result of being affected by several variables that have direct correlations, such as oil prices and the global rise in industrial sectors in the source countries. In addition to the repercussions of international shipping costs, which are witnessing an unprecedented rise.

He pointed out that the purchasing power and the high level of income in the UAE can face any cases of price inflation, considering that these increases will be temporary due to the global repercussions of the Corona pandemic, at a time when the UAE is moving forward towards global leadership in the process of vaccination with Corona vaccines for all its residents. .

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