Dubai inflation edges up in May
Dubai, June 14, 2013
Dubai inflation edged up to one per cent year-on-year in May as the food prices rose along with housing and utility costs compared to last month, said a report.
The housing and utility costs, which account for almost 44 per cent of consumer expenses, fell 1.1 per cent year-on-year during the month, according to the report by Dubai Statistics Center.
The food prices, which make up 11 per cent of the basket, increased 0.8 per cent, the report stated.
Analysts polled by Reuters in April forecast average inflation in the UAE federation would accelerate to 1.6 per cent in 2013 from 0.7 per cent in 2012, which was the lowest level since 1990.-Reuters
More Finance & Capital Market Stories
- Abraaj completes 15 exits in 2013
- Barwa gets top HSE certifications
- Egypt's forex reserves dip to $17.8bn in Nov
- Experts put spotlight on Mena tax issues
- BMI, Muharraq SC launch co-branded credit card
- NBAD partners with top business school
- Dubai non-oil trade surges 10pc to $272bn
- Iran president targets stagflation in first budget
- DFM accredits 2 firms for margin trading
- Kuwait inflation plunges to nine-year low