Dubai inflation soars to 4-year high in Feb
Dubai, March 18, 2014
Dubai's inflation in February rose to 2.6 per cent year-on-year, the highest since December 2009, said a report.
The housing and utility costs, which account for almost 44 per cent of consumer expenses, jumped 4.5 per cent year-on-year and rose 0.6 per cent month-on-month in February, stated the data from Dubai Statistics Center.
Food and beverage prices, which account for 11 per cent of the basket, increased 3.7 per cent on an annual basis but fell 0.7 per cent from the previous month.
Analysts polled by Reuters in January forecast average inflation in the UAE would accelerate to 2.5 per cent in 2014 and 2.7 per cent in 2015 from 1.1 per cent in 2013, which was the highest level since 2009.-Reuters