Housing, food in UAE getting costlier

Consumer prices in the United Arab Emirates climbed to an 18-month high of 1.9 per cent on an annual basis in October, mainly on rising housing and food costs, data from the National Bureau of Statistics showed on Sunday.

Analysts expected prices in the world's third largest oil exporter to pick up gradually this year as the Gulf country recovers from last year's downturn.

The second largest Arab economy is seen expanding by 2.4 per cent this year following an IMF estimated contraction of 2.5 per cent in 2009.

Analysts polled by Reuters expected average inflation of 1.5 per cent in 2010.

UAE inflation hit a nine-year low of 1.6 per cent last year, after a record high of 12.3 per cent in 2008.
 

KEY POINTS

UAE CONSUMER INFLATION         10/10        09/10       10/09

pct change month/month                      0.6          0.9          -0.1

pct change year/year                               1.9          1.2          -0.4