Dubai inflation eases to 2.2pc in Dec
Dubai, January 18, 2014
Dubai inflation eased marginally to 2.2 per cent year-on-year in December from 2.3 per cent the previous month, said a report.
The housing and utility costs, which account for almost 44 per cent of consumer expenses, jumped 3.3 per cent year-on-year and rose 0.3 per cent month-on-month in December, stated the data from Dubai Statistics Center.
The food and beverage prices, which account for 11 per cent of the basket, increased 4.7 per cent on an annual basis but fell 0.7 per cent from the previous month, it stated.
The average inflation climbed to 1.3 per cent in 2013, the highest level since 2009, after consumer prices dropped 1.7 per cent in 2012.
Analysts polled by Reuters in September forecast 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