Price Indices

The price statistics in general and the consumer price index in particular are among the most important statistical indicators that are used to measure economic developments and changes, and the UAE adopts 2021 as the base year for calculating the consumer price index. The consumer basket for 2021 includes about 2300 goods and services for which prices are corrected periodically. The basket has been classified into thirteen major divisions according to the Classification of Individual Consumption According to Purpose (COICOP) issued by the United Nations. Prices are collected from about 200 outlets distributed over the Emirate of Ras Al Khaimah.

The consumer price index is used to compare the prices of a basket of goods and services between two different time periods. The period in which we want to know the change in its prices is called the comparison period, and the period to which we compare is called the base period.​