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FINANCIAL NEWS
Dubai’s June consumer prices up by 0.5%
07 Jul 2011
(MENAFN) Dubai Statistics Center said that due to the fastest food price surge in three years, last month, consumer prices in the emirate increased by 0.5 percent on a monthly basis, reported Emirates 24/7.
The center added that on an annual basis, living costs rose 0.8 percent in the month following a 0.4 percent increase in May, moreover, in June, food costs grew by 3.8 percent month-on-month, the sharpest rise since June three years ago.
It also said that the rise in food prices was driven by a 23.3 percent jump in fish prices and a 7.2 percent jump in vegetables prices.
It is worth noting that in June, housing prices slipped 0.2 percent, the fifth monthly drop in a row, since the market remains under pressure with thousands of new units coming up over the next few months.
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