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FINANCIAL NEWS
Dubai’s monthly CPI edges down in March
21 Apr 2010
(MENAFN) A report issued by the Dubai Statistics Center showed that the emirate’s Consumer Price Index (CPI) for last month stood at 115.47 compared to 115.61 in February and 115.86 in January, on the back of slowing in food, housing and communications cost increases, Gulf News reported.
Housing and energy, which account for 44 percent of the Dubai CPI, edged 0.23 percent lower in March compared to February, after a 0.86 percent decrease the previous month.
Food prices, which have an 11 percent weighting in the index, decreased by 0.67 percent month-on-month in March after increasing 1.26 percent in the previous month, the data showed.
On an annual basis, however, prices in the emirate continue to rise, but at a slower rate. March witnessed a 0.83 percent rise in prices compared to the same month in 2009, with education, health and transport costs increasing the most.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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