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FINANCIAL NEWS
Inflation in UAE at four-year high
17 Apr 2014
(MENAFN) According to the data released by National Bureau of Statistics, the annual inflation in the UAE jumped to 1.9 percent last month from 1.8 percent the month before, the highest level in almost four years, Gulf News reported.
Inflation statistics for Dubai showed the consumer price in the UAE was 3 percent last month, with Dubai’s inflation decreasing 0.4 percent last month from 3.4 percent in February. As for the first quarter of this year, Dubai’s inflation increased to 2.59 percent, compared to 0.13 percent in the year-ago period.
“Rising inflation in Dubai and at the national level is to be expected through the course of this year, as the sharp increase in housing costs over the last couple of years feeds through to the official inflation indices. Nevertheless, we note that overall inflation is still relatively low: less than 2 per cent at the national level and 3 per cent in Dubai,” said the Head of MENA Research at Emirates NBD.
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