UAE – Mubasher: The consumer price index (CPI) in the emirate of Dubai slashed for the sixth consecutive month by 2.61% year-on-year in May, data by the Dubai Statistics Centre (DSC) showed.

The decrease in CPI was mainly driven by the drop in prices in housing services, water, electricity, gas, and fuel segment by 6.35%, which pushed inflation rate down by 2.74 points, according to a report by the DSC.

Prices in the consumer goods and services segment fell by 2.53%, contracting inflation rate by 0.15 points, the report said.

The ready-made clothing prices in Dubai dropped by 6.8% last May, easing the CPI by 0.14 points, while the food and beverage prices slipped 0.20%, cutting the CPI by 0.03 points.

On the other hand, prices in the transport sector rose by 1.65%, pushing inflation up by 0.18 points, while the prices in restaurants and hotels went up by 2.40%, adding 0.10 points to the emirate’s CPI.

Moreover, prices in both the communication and the education segments levelled up by 0.16% and 0.03%, respectively.

On a monthly basis, the CPI in Dubai edged up by 0.27% in May as the prices of the transport segment rose by 3.51%, raising inflation rate by 0.39 points.

The prices of the food and beverages segment went up in May by 0.29% month-on-month, while housing services, water, electricity, gas, and fuel segment prices dipped 0.50%.