FINANCIAL NEWS

Dubai consumer prices rise 0.15% in June

19 Jul 2010

(MENAFN) Data published by Dubai showed that consumer prices in the state rose 0.15 percent in June compared to 0.78 percent rise in May due to increasing food prices, Reuters reported.

The global downturn cut down consumer price growth across the Gulf oil producing region from record peaks in 2008, with some countries such as the UAE and Qatar seeing months of deflation last year.

Data showed that prices rose 0.64 percent in the first six months of 2010 compared to the same period a year earlier, also led by rising costs of food, which edged up 0.45 percent.

Consumer prices in the UAE, the world’s third-largest oil exporter, rose by 0.88 per cent year-on-year in May and fell 0.07 per cent on the month.

The UAE has yet to release federal inflation data for June.

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