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FINANCIAL NEWS
Dubai inflation slows to 0.4% in July
12 Aug 2010
(MENAFN) A report issued by the Dubai Statistics Center showed that the emirate’s inflation has slowed slightly in July to reach 0.4 percent year-on-year as food price growth decelerated and housing costs fell again, Gulf News reported.
According to the report, annual consumer prices in Dubai fell 0.1 percent in April after a sharp tumble from record double digit price growth during 2008. The inflation rate picked up to 0.5 percent in June.
On the month, consumer prices rose 0.1 percent in July, down from a 0.2 rise in the previous month, the statistics center said.
Food prices, which account for 11 percent of the overall index, rose by 0.6 percent in July, the lowest increase in three months, following a 1.1 percent jump in June.
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