Dubai inflation hits 4-year high in Nov
Dubai, December 12, 2013
Dubai's inflation in November rose to 2.3 per cent year-on-year, the highest since December 2009, said a report.
The food and beverage prices, which account for 11 per cent of the basket, jumped 4.3 per cent on an annual basis, the highest rate since August 2012, and 2.3 per cent from the previous month, said Dubai Statistics Center in its data released on Thursday.
Housing and utility costs, which account for almost 44 per cent of consumer expenses, rose 3.1 per cent year-on-year and remained unchanged month-on-month in November, it added.
Analysts polled by Reuters in September forecast average inflation in the UAE federation to accelerate to 1.5 per cent in 2013 and 2.3 percent in 2014 from 0.7 percent in 2012, which was the lowest level since 1990.-Reuters