FINANCIAL NEWS

Cooling property maintains Dubai inflation stable

18 Jan 2016

(MENAFN) Dubai’s inflation average maintained flat in Dec against the previous month as the cooling housing market contained price grows.

Furthermore, inflation stood at a yearly rate of 3.05 percent last month, virtually unchanged against Nov’s 3.07 percent.

However, house price inflation decreased to 5.9 percent in the cited month, down from 6.5 percent in Nov that trailed sale price drops as the property market cools.

Additionally, falling subsidies have increased the price of energy, water and fuel in Abu Dhabi and Dubai, whereas inflation in Abu Dhabi continued to grow.

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