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28 March 2024

UAE inflation at 2010 high

Published
By Wam/Reuters

Inflation in UAE and Dubai rose in March on the back of higher housing and utility costs.

UAE March inflation edged up to 1.9 per cent, highest since October 2010, compared to 1.8 per cent in February, the National Bureau of Statistics data showed on Wednesday.

Year-on-year inflation rose from one per cent to in March 2013 to 1.9 per cent in March 2014.

The data showed that housing and utility costs, which account for over 39 per cent of consumer expenses, rose 2.4 per cent from a year earlier in March.

Food and soft drink prices, representing nearly 14 per cent of the basket, increased 2.0 per cent.

Analysts polled by Reuters in January forecast average inflation in the UAE would accelerate to 2.5 per cent in 2014 and
2.7 per cent in 2015 from 1.1 per cent in 2013, which was the highest level since 2009.

Inflation in Dubai inches up

Inflation in Dubai rose last month due surge in costs of beverages, tobacco, household equipment and maintenance costs.

According to data released by Dubai Statistics Centre, consumer Price Index (CPI) in Dubai gained 0.39 per cent in March in comparison to February driven by an increase in the groups of alcoholic beverages and tobacco by 4.98 per cent, furnishings, household equipment and routine household maintenance 4.61 per cent, food and non-alcoholic beverages 1.21 per cent, health 0.42 per cent, housing, water, electricity, gas and other fuels 0.36 per cent, restaurants and hotels 0.03 per cent and communication 0.01 per cent, according to data released by Dubai Statistics Centre (DSC) on Wednesday.

The monthly report said that other groups which witnessed a decrease included miscellaneous goods and services at 0.89 per cent, recreation and culture 0.60 per cent, clothing and footwear 0.10 per cent, and transport 60 per cent, while the group of education remained stable.