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FINANCIAL NEWS
UAE’s Feb inflation rate up to 0.73%
18 Mar 2013
(MENAFN) The UAE’s national bureau of statistics stated that the country’s annual inflation rate in February grew to 0.73 percent, driven by a rise in food and beverage prices, reported Gulf News.
The agency said that in the month, the consumer price index (CPI) rose to 117.24, compared with 116.39 in 2012’s same period.
It added that prices of the housing category, which comprises around 40 percent of the country’s CPI basket, recorded a small decline, thus, offsetting the rise in the food and beverage group.
It also noted that February’s inflation is compared with a rate of 0.43 percent in January.
It is worth noting that in January, the UAE’s economy ministry stated that inflation level for 2013 is projected to be between 1 and 1.5 percent.
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