United Arab Emirates: Inflation reaches highest rate in nearly six years
February 23, 2015
In January, consumer prices rose 0.68% over the previous month, which followed the 0.34% increase observed in December and marked a four-month high. According to the National Bureau of Statistics, the figure mainly reflected higher prices for housing as well as miscellaneous good and services.
Annual inflation rose from 3.1% in December to 3.7% in January, the highest level since March 2009. In addition, annual average inflation increased from 2.3% in December to 2.5% in January, marking the highest rate on record.
Author: Dirina Mançellari, Senior Economist