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FOOD, HOUSING COSTS SOAR

Dubai inflation near 4-year high in Oct

Dubai, November 11, 2013

Dubai inflation edged up in October to the highest level since 2009 as the food prices rose along with housing and utility costs compared to the same period last year, said a report.
 
The housing and utility costs, which account for almost 44 per cent of consumer expenses, grew 3.2 per cent year-on-year and 0.2 per cent month-on-month in October, according to data released by Dubai Statistics Center.
 
The food and beverage prices, which account for 11 per cent of the basket, increased 1.8 per cent on an annual basis but fell 0.4 per cent from the previous month, it stated.

Analysts polled by Reuters in September said the average inflation in the UAE would accelerate to 1.5 per cent in 2013 and 2.3 per cent in 2014 from 0.7 per cent in 2012, which was the lowest level since 1990.-Reuters




Tags: inflation | Dubai | Food | Utility |

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