Dubai’s inflation up to 3.4 percent in 2014

18 Jan 2015

(MENAFN) According to the latest data by Dubai Statistics Centre, the emirate’s inflation registered an increase to 3.37 percent in 2014 compared to 1.31 percent in 2013 mainly because of rising rents, food prices and education cost, Khaleej Times reported.

The released data also showed Dubai’s inflation rate in December, which remained flat at 4.2 percent compared with the same month in 2013, while indicating that the housing and utility cost, which accounts for almost 44 per cent of consumer expenses, surged 7.7 per cent from a year earlier and 0.8 percent in comparison with November.

In 2014, food and beverages prices, accounting for more than 11 percent of the total expense of consumers, increased to 2.68 percent compared to 2.55 percent in 2013, with the group recording the highest increase in the prices of fish and seafood, increasing by 15 percent, followed by an increase in the prices of meat by 3.37 percent, then an increase by 2.21 percent in the prices of Food products, while also showing that food prices dropped by 1.8 percent compared to December 2013

Meanwhile, the housing prices the highest increase of 5.63 per cent in 2014 compared to 1.22 per cent in 2013, due to rising rents, while furnishings household equipment and routine household maintenance inflation rate reached 3.65 percent, and health group inflation rate amounted to 2.48 percent in 2014.