Jul 06, 2012
Annual inflation in the UAE was slightly up at 0.81 per cent in May, compared with 0.79% in April, due to a increase in food prices, according to the National Bureau of Statistics.
The food and non-alcoholic beverages category prices within the country’s Consumer Price Index, or CPI, were up 6.82 per cent in May compared with the same month last year, and by 0.95 per cent from April.
However, a significant drop in rents by 3.35 per cent from May 2011 moderated the CPI index numbers, as the housing component constitutes nearly 36 per cent of the UAE’s CPI basket. The economy minister said last month that he expected inflation to remain below 1.5 per cent in the short term.
Source: www.KhaleejTimes.com
