Dubai inflation near 4-year high in Aug
Dubai, September 11, 2013
Dubai inflation edged up in August to the highest level since 2009 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, rose 1.4 per cent year-on-year and remained flat month-on-month in August, according to the report by Dubai Statistics Center.
The food and beverage prices, which account for 11 per cent of the basket, jumped 2.6 per cent on an annual basis and 3.5 per cent from the previous month.
The food prices usually go up during Ramadan, which ended in early August, when families enjoy more
elaborate evening meals after the daylight fast.
Analysts polled by Reuters in April forecast average inflation in the UAE federation to accelerate to 1.6 per cent in 2013 from 0.7 per cent in 2012, which was the lowest level since 1990.-Reuters