FINANCIAL NEWS

Dubai consumer prices up 0.15% in June

20 Jul 2010

(MENAFN) A report issued by Dubai?s statistics department showed that the emirate?s consumer prices edged higher in June, rising 0.15 percent from the previous month, boosted mainly by increasing food prices, Khaleej Times reported.

The global downturn slashed 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.

Dubai is a member of the UAE but also publishes separate inflation data. In the first half of 2010, prices were up 0.64 percent 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 percent year-on-year in May and fell 0.07 percent on the month.

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