Dubai July inflation lowers

12 August 2010

According to data by the Dubai Statistics Centre, inflation had dropped to the lowest level in three months in July to 0.4% year-on-year, as food price growth decelerated and housing costs fell again, Reuters has reported. On the month, consumer prices rose 0.1% in July, down from a 0.2% in the previous month. Prices for housing and energy, which have a 44% weight in the Dubai basket, fell by 0.1% month-on-month after staying flat in June. Food prices, which account for 11% of the overall index, rose by 0.6% in July, the lowest increase in three months, following a 1.1% jump in June.

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