Dubai inflation rate hits six-year high in January

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Dubai inflation rate hits six-year high in January

The inflation rose to 4.5 per cent year-on-year with housing and utility costs, which account for almost 44 per cent of consumer expenses, rising 7.6 per cent year-on-year.

By Staff Report

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Published: Sat 21 Feb 2015, 12:15 AM

Last updated: Thu 25 Jun 2015, 11:57 PM

Dubai — Dubai’s inflation rate jumped to its highest level in January since May 2009, driven by housing and utility costs, according to the data released by the Dubai Statistics Centre on Thursday.

The inflation rose to 4.5 per cent year-on-year with housing and utility costs, which account for almost 44 per cent of consumer expenses, rising 7.6 per cent year-on-year. The inflation rate was 0.8 per cent higher than the previous month, the data showed.

Food and beverage prices, which account for 11 per cent of the basket, fell 1.6 per cent on an annual basis.
Inflation rate of 2014 amounted to 3.37 per cent compared to 2013, due to an increase in the prices of housing, water, electricity, gas, and other fuels group by 5.63 per cent, alcoholic beverages and tobacco group by 5.38 per cent, education group by 3.87 per cent, furnishings, household equipment and routine household maintenance group by 3.65 per cent, restaurants and Hotels group by 3.12 per cent, food and non-alcoholic beverages group by 2.68 per cent, health group by 2.48 per cent, miscellaneous goods and services group by 1.69 per cent, communication group by 1.58 per cent and transport group by 1.19 per cent.


On the other hand, inflation rate for clothing and footwear group declined by 0.12 per cent and recreations and culture group declined by 0.07 per cent last year.

According to official data released by the UAE National Bureau of Statistics, the country’s year-on-year inflation rate rose to 3.1 per cent in December, up from 2.8 per cent in the previous month.

The December figure was well above the average inflation rate of 2.33 per cent in 2014, the bureau said, adding that the December inflation matched the rate in October, which was the highest for nearly six years.

— abdulbasit@khaleejtimes.com


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