Dubai May inflation eases to 2.8pc year-on-year
Dubai, June 16, 2014
Consumer inflation in Dubai during May eased down to 2.8 per cent year-on-year, according to figures released by Dubai Statistics Center.
Housing and utility costs, which account for almost 44 percent of consumer expenses, rose 4.7 percent year-on-year but were flat month-on-month in May.
Food and beverage prices, which account for 11 percent of the basket, increased 3 percent on an annual basis and rose 1.2 percent from the previous month.
Analysts polled by Reuters in April forecast average inflation in the UAE federation would accelerate to 1.9 percent in 2014 and 2.5 percent in 2015 from 1.1 percent in 2013, which was the highest level since 2009. – Reuters