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FINANCIAL NEWS
Dubai inflation hits 4.4 percent in October
14 Nov 2014
(MENAFN) According to Dubai Statistics Center released October consumer price data for Dubai, the inflation in the emirate has reached its highest level since May 2009 due to a surge in housing costs, Arabian Business reported.
The data showed that during October, housing and utility costs, which account for almost 44 percent of consumer expenses, rose 6.7 percent from compared to the same month last year while growing by 0.4 percent compared to last month.
Meanwhile, food and beverage prices, which account for 11 percent of consumer expenses, increased 4.7 percent compared to October 2013, and by 0.5 percent compared to September.
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