RIYADH: Dubai’s annual inflation rate continued to decelerate in October, marking its lowest point in 14 months, according to official data.
The Dubai Statistics Center reported that the emirate’s inflation rate stood at 2.4 percent in October, primarily influenced by a more pronounced deflation in transport prices, which dropped by 10.6 percent, a steeper decline than the 8 percent recorded in September.
Compared to other major cities in the region, Dubai’s inflation rate has remained notably low, reflecting the government’s strategic efforts to maintain price stability and support economic growth.
Despite global inflationary challenges, Dubai’s economy has shown resilience, bolstered by its diverse sectors including tourism, real estate, and trade.
The data also highlighted a deflation in the tobacco price category, reaching 3.63 percent, similar to the previous month. Additionally, the information and communication category experienced a milder deflation of 1.92 percent, down from 2.05 percent in September.
Recreation, sport, and culture prices saw a year-on-year decrease of 1.74 percent in October, a less significant drop compared to the 2.66 percent decline in the prior month.
Conversely, the housing, water, electricity, gas, and other fuels sector saw a price increase, rising by 7.16 percent, up from 7.02 percent in September. The insurance and financial services sector also registered a price hike, with a 5.83 percent rise in October, compared to 5.20 percent in the previous month.
Prices in education, health, and food and beverages also saw upward movement in October. Education prices increased by 2.94 percent, health by 1.87 percent, and food and beverages by 1.85 percent. These increases were slightly higher than the previous month’s figures.
The personal care, social protection, and miscellaneous goods and services sector recorded a 1.67 percent price increase, while clothing and footwear rose by 1.15 percent. Both sectors saw smaller increases compared to September.
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