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FINANCIAL NEWS
UAE consumer price drops by 0.33 percent in Jan
13 Mar 2016
(MENAFN) The fall in global oil prices declined economies of nations around the world and exerted a positive impact on keeping prices of vital commodities stable in the UAE.
Accordingly, the Consumer Price in Dubai for Jan 2016 dropped by 0.33 percent as compared to Dec 2015, due to a decline in food and beverages at 1.93 percent and transport.
Moreover, the food price consumption dropped 14.5 percent and oil prices 38.3 percent compared to Feb 2014, while the fall in oil prices has an impact on the economies of oil suppliers.
Oil is almost 30 percent of the GDP and hydrocarbon revenues contribute more than 80 percent of the government revenues, while it’s not expected a reduction in gov’t spending.
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