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UAE consumer prices fall in August

Abu Dhabi, September 17, 2011

The UAE consumer prices in August fell 0.14 per cent month-on-month from July, according to data from the country's National Bureau of Statistics.

Housing costs fell 0.74 per cent in August from July and was down 3.16 per cent from August last year, mainly due to continued decline in rents in the Opec-member.

The inflation in the UAE was 0.6 per cent year-on-year in August, the data showed.

Food prices rose 0.49 per cent in August from July, which coincided with Ramadan.

Transport costs, the third largest basket component with a 10 per cent weight, inched up 0.01 per cent from July but rose 1.5 per cent from August 2010.

Analysts polled by Reuters expected average inflation of 2.5 per cent in 2011.-Reuters




Tags: UAE | inflation | Consumer prices |

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