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FINANCIAL NEWS
Dubai inflation up in February
15 Mar 2011
(MENAFN) The UAE’s central bank reported that inflation in Dubai hit in February its highest level in a year as it went up 0.9 percent on an annual basis, reported Reuters.
The central bank said that the increase in inflation was due to the hike in prices of food and cost of transportation in January.
Consumer prices in Dubai went up 0.2 percent in February on a monthly basis, after a 0.1 percent fall reported in January.
The bank also said that fuel costs increased due to the unrest in the region which imposed an increase on transportation costs. Food prices on the other hand increased by 2.7 percent in February after a 1.6 percent drop in January.
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