Wednesday 20 June 2018

Dubai inflation up 3pc, highest since 2009

Dubai, April 16, 2014

Dubai's consumer inflation rose 3.0 per cent in March compared to the same month last year, registering the highest increase since August 2009.

The increase from February was 0.4 per cent, according to the Dubai Statistics Center.

Housing and utility costs, which account for almost 44 per cent of consumer expenses, climbed 4.8 per cent
year-on-year and rose 0.4 percent month-on-month in March.

Food and beverage prices, which account for 11 percent of the basket, also rose 4.8 percent from a year earlier and gained 1.2 percent from a month earlier.

Analysts polled by Reuters in January forecast average inflation in the UAE federation would accelerate to 2.5 percent in 2014 and 2.7 percent in 2015 from 1.1 percent in 2013, which was the highest level since 2009. -Reuters

Tags: UAE | inflation | Dubai | Housing |

More Finance & Capital Market Stories

calendarCalendar of Events