Inflation rises on housing and food prices

Rising housing and food prices pushed up inflation in the UAE to 1.6 per cent in April, according to data released on Tuesday.

Figures from the Federal Competitiveness and Statistics Authority show that the cost of housing, accounting for 39.3 per cent of the FCSA’s price measure, rose by 3.69 per cent in April compared with a year ago. Food and soft drinks prices, which have a weighting of 13.9 per cent, rose by 3.08 per cent.

Such increases were offset by a 6.07 per cent year-on-year decrease in transport costs, following a cut in fuel prices during March.

Inflation was most pronounced in Abu Dhabi in April, rising to 2.67 per cent, followed by a 1.94 per cent increase in Dubai.

At the other end of the spectrum, inflation stood at just 0.44 per cent in Ajman, with a deflation of 0.42 per cent in Ras Al Khaimah.

Follow The National’s Business section on Twitter


Share This Post