United Arab Emirates: Inflation in March jumps to over five-year high
April 24, 2015
In March, consumer prices rose 0.90% over the previous month, which followed the 0.09% increase observed in February and marked a six-month high. According to the National Bureau of Statistics, the figure mainly reflected higher prices for housing as well as restaurants and hotels.
Annual inflation jumped from 3.6% in February to 4.3% in March, thus reaching the highest rate since February 2009. In addition, annual average inflation increased from 2.7% in February to 2.9% in March, marking the highest rate on record.
Author: Dirina Mançellari, Senior Economist