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FINANCIAL NEWS
Dubai’s inflation hits 4.7 percent in May
23 Jun 2015
(MENAFN) Dubai’s inflation rate, or Consumer Price Index (CPI), increased to 4.7 percent in May, according to data issued by Dubai Statistics Center for the Gulf Arab emirate, Reuters reported.
The figure stands as the highest since May 2009, the data showed, adding that housing and utility costs reached 7.8 percent, while Food and beverage prices increased 1.7 percent year-on-year and 3.0 percent month-on-month.
The data also noted that the housing and utility sector represents 44
percent of consumer expenses and the food and beverage sector stands for only 11 percent.
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