Index shows slight increase in prices between Q4 2010 to Q1 2011
Dubai, UAE: Dubai Chamber of Commerce & Industry has launched a new Wholesale Price Index for industrial and commercial machinery in order to track price fluctuations across the sector.
The index, which compares prices of different types of machinery in the fourth-quarter of 2010 with those in the first-quarter of 2011, found that overall prices had risen very slightly.
"Prices of most items remained stationary between the two quarters. However, there were a few items that registered price increases. These outnumbered the number of items which saw a decline, leading to an overall quarter-on-quarter increase," said H.E. Hamad Buamim, Director General, Dubai Chamber of Commerce & Industry.
The index shows that prices of machines under the General Purpose category increased by 0.9% due to an increase of 4.6% quarter-on-quarter of petrol engines, which are included in this class.
The category with the maximum price increase of 3.8% was Industrial Sewing Machines. This was due to price rises of computerized normal stitching machines (20%), hemming machines (15%), embroidery machines (12.7%) and button hole machines (5%).
A decrease of 0.1% was recorded in the Floor, Outdoor and Auto Cleaning category due to a 2.2% drop in the price of high pressure washers.
Meanwhile, an increase of 0.1% was posted for Laundry Machines due to a 6.2% increase in the price of washer extractors and a 0.02% increase in dryer machines. A decrease of 7.4% and 2.4% was recorded for dry clean machines and pressing machines respectively.
The index is based on 150 price quotations of 17 types of machinery from more than 20 traders in Dubai.
A full list of categories and a breakdown of price changes is included in the table below.
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Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favorable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
© Press Release 2011
