Dubai inflation edges up, housing costs fall
Dubai, March 13, 2013
Dubai inflation edged up to 0.2 per cent year-on-year in February as the food and non-alcoholic beverage prices registered a 2.2 per cent growth compared to last month, said a report.
The housing and utility costs, which account for almost 44 per cent of consumer expenses, fell 1.2 per cent year-on-year during the month, according to the report by Dubai Statistics Center.
However, the food and non-alcoholic beverage prices, which make up 11 per cent of the basket, shot up rising 2.2 per cent, said the DSC data released on Wednesday.
Analysts polled by Reuters in January forecast that the average inflation in the UAE would accelerate to 1.8 per cent in 2013 from 0.7 per cent in 2012, which was the lowest level since 1990.-Reuters