As a result of an increase in the prices of 9 commodity and service groups

Annual inflation in the country continues to rise for the third month in a row

The foodstuff group constitutes 14.3% of spending and increased by 1.9%.

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The Federal Competitiveness and Statistics Center reported that the consumer price inflation rate in the country increased on an annual basis during the month of October by 1.9%, which is an increase for the third month in a row, after a decline that lasted 31 months.

The center explained, in a report issued yesterday, that the increase in annual inflation came as a result of the rise in the prices of 9 main commodity and service groups that constitute 56.4% of total consumer spending, namely, transport, education, recreation and culture groups, household equipment, foodstuffs, health care, hotels and restaurants, communications, and tobacco.

In detail, the Federal Competitiveness and Statistics Center revealed that consumer price inflation rates in the country increased on an annual basis during the month of October, by 1.9%, the third rise in inflation, for the third month in a row, after a decline that lasted 31 months.

The inflation rate had achieved its first rise on an annual basis in 31 months, during the month of August, recording a rise of 0.5%, then it continued to rise in the month of September to rise by 1.2%. In its "Inflation October 2021" report, which was issued yesterday, the Center explained that the general index rose to approximately 108 points last October, compared to approximately 106 points in October 2020. He pointed out that the increase in annual inflation came as a result of the rise in prices of 9 groups. Major goods and services that constitute 56.4% of total consumer spending. He pointed to an increase in the transportation group, which constitutes 14.6% of consumer spending by 15.2%, and the increase in the prices of the recreation and culture group, which constitutes 3.2% of consumer spending by 13.9%, in addition to an increase in the prices of the education group, which constitutes 7.7% of consumer spending by 0.3%, and a group of Household equipment that makes up 5.6% of spending at 1.2%, and tobacco group prices that make up 0.3% of spending at 0.9%, and the food group, which constitutes 14.3% of spending by 1.9%, in addition to the rise in the prices of the health care group, which constitutes 1.4% of spending by 0.4%, and the group of hotels and restaurants, which constitutes 4% of spending by 1.9%, and the communications group that It constitutes 5.4% of spending, or 0.2%.

At the same time, the prices of 3 commodity and service groups decreased on an annual basis at varying rates, namely the prices of housing, water, electricity and gas group, which decreased by 3.3%, the group of clothes, textiles and shoes by 0.3%, and a group of miscellaneous goods by 1.3%.

In addition, the inflation rate rose on a monthly basis by 0.7% during the month of October compared to the previous month.

The report indicated that all emirates of the country recorded increases in the inflation rate, which ranged between 0.63% and 0.72%.

• Inflation achieved the first rise on an annual basis in 31 months, during the month of August.

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