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28-05-14

UAE's inflation to hit 4 percent in H2

(MENAFN) Inflation in the UAE is expected to continue boosting in the second half of the current year and is expected to hit 4 percent year-on-year by 2015, according to the Emirates 24/7. The inflation's rise will result from the higher living cost and rising number of expatriates, which are expected to boost rents and property prices. It said UAE firms have apparently not passed on full extent of higher production costs to the consumers as prices significantly rose in February and March 2014. Figures showed that headline inflation in the UAE remained low at 1.9 percent in March, compared to 1.5 percent in December 2013.