Dubai’s inflation reaches highest level in five years

April 17, 2014 9:06 am

According to the Dubai Statistics Centre, the emirate’s consumer inflation rose 3% in March over the same month last year, registering the highest increase since August 2009, Reuters has reported. Housing and utility costs, which account for almost 44% of consumer expenses, climbed 4.8% year-on-year and rose 0.4% month-on-month in March, the data showed. Food and beverage prices, which account for 11% of the basket, also rose 4.8% from a year earlier and gained 1.2% from a month earlier.