Goods and services Weights are considered the main element in the production of the index number. They are calculated based on the Households’ Income and Expenditures survey.
The UAE and the center have adopted the data of the 2019’ Households’ Income & Expenditures survey in calculating goods and services weights. And 2021 has been selected as the base year for the consumer price index.
The consumer price index covers all the consumption expenditures of both citizen and non-citizen households but excludes loan installments, income tax, property and stock purchases, or any other financial assets.
The 2021 consumer basket (the base year) consists of approximately 2,300 goods and services, categorized into 13 groups according to the United Nations Classification of Individual Consumption by purpose. Prices are gathered from around 200 outlets in the emirate of Ras Al Khaimah.
The frequency of price collection varies depending on the nature of the good or the service. For example, the prices of fruits and vegetables are collected weekly, while the prices of other food products and consumable goods, as well as oil prices, are collected monthly. Prices for rents, electronic devices, culture and recreation, and personal goods are gathered quarterly, while education and health-related prices are collected annually.