image description
image description
Tell A Friend

FinancialNews


  • 19-06-11

    UAE's May inflation surges 1.4%

    (MENAFN) UAE's National Bureau of Statistics said that since food prices carried on increasing, last month, the country's inflation rose to a three month high of 1.4 percent on a yearly basis, reported Emirates 24/7. The bureau added that while inflation in April stayed low in 2011 at 1.1 percent, consumer prices growth remained around 1 percent for most of the last year; moreover, living costs in May went up 0.2 percent. It also said that last month, food costs increased 1.3 percent month on month, accounting for 14 percent of consumer expenses, whereas housing prices slipped 0.1 percent in the month on a monthly basis, recording the sixth consecutive drop since the property sector remained weak. Meanwhile transport costs grew 0.1 per cent, slightly slower than in the previous month. It is worth noting that the UAE government has called on retailers to offer discounts reaching up to 50 percent in Ramadan, when food prices usually increase. Last month, the UAE said it planned to combat growing global commodity prices by adjusting the cost of around 400 food and household products at 70 outlets.

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved
Cookie Disclaimer
Our website uses cookies and other similar technologies for storing certain information to provide you with a better optimized, faster and safer browsing experience. They are stored locally on your computer or mobile device. By clicking ACCEPT or continue to browse the website, you acknowledge that you have read and understand our privacy policy and cookie policy and you agree to our use of cookies.
Accept All Cookies Manage Preferences