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
More Finance & Capital Market Stories
- Qatar 'most expensive country in Gulf'
- Egypt regulator sets rules for index
- Dubai Islamic eyes Kenya, Indonesia for expansion
- ADCB to buy back 3pc of its shares
- GCC insurance growth outpaces developed markets
- Bahrain 'faces budget deficit, inflation challenges'
- Global Payment Services wins key certification
- BBK unveils big India expansion plans
- Kuwait GDP growth to hit 3.5pc in 2014
- Gulf shares tumble over EM exposure cut
- GCC bonds to gain from macro-economic climate
- French Business Council Dubai members up 18pc
- Egypt economy growth seen less strong than thought
- Sharjah approves $4.2bn budget for 2014
- Saudi non-oil sector posts solid growth in Feb
- Seera total income rises to $34m
- NBAD approves 40pc cash dividends
- NBAD sees 8-10pc loan growth
- Al Basel Group launches investment arm
- Union Insurance posts $18m profit
- Oman warns banks on conflicts of interest
- Japan to lend Tunisia $480m
- 400 to join anti-laundering seminar in Riyadh
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards