Falling food and beverages prices offset surging housing, tobacco and clothing charges, helping trim Dubai’s CPI inflation to 4.05% y/y in March from 4.33% the month before, data from the statistics office showed. The prior-year low base, coupled with rebounding trade, tourism and real estate activity will fuel further inflationary pressures in 2015, boosting Dubai’s and consequently the UAE’s national price growth.
In monthly terms, the CPI grew 0.2% in March, virtually the same as in February.
Food and non-alcoholic beverages prices (11.1% of the basket) dropped 0.1% m/m in March on favourable season factors, deepening the annual deflation to 1.9% from 0.6% y/y in February.
Those of housing, which have the largest weight in the CPI (43.7%), grew 0.2% m/m, trimming the annual growth to a still high 7.4% from 7.6% y/y in February. Tobacco and alcoholic beverages costs jumped 9.4% y/y in March while those of clothing and footwear climbed 8.7% y/y. Strong tourism activity lifted hotels and restaurants prices by 1.2% m/m and 3% y/y in March.
Related Articles
Egypt eyes $5.2bn in manufacturing investments for FY2025/26, says planning minister
The Egyptian government plans to attract EGP 252.8bn ($5.2bn) in investments to the manufacturing sector for FY 2025/26, Economy Plus reported on September 3, citing the country’s Minister of ... more
Egypt set to receive $500mn tranche from IMF Resilience and Sustainability Facility before end-2025
Egypt is set to receive the first tranche of $500mn from the International Monetary Fund’s (IMF) Resilience and Sustainability Facility (RSF) before the end of 2025, Asharq Business reported on ... more
Egypt targets $7.4bn in investment in pharmaceutical sector, plans 70 new factories by 2030
Egypt plans to attract EGP 350bn ($7.4bn) of investment into its pharmaceutical sector within the next five years, Gamal El-Lithy, head of the Chamber of Pharmaceutical Industry at the ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
19 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago