Arab Today, arab today du consumer prices in steepest slide
Last Updated : GMT 02:42:58
Arab Today, arab today
Arab Today, arab today

DU consumer prices in steepest slide

Arab Today, arab today

Arab Today, arab today DU consumer prices in steepest slide

Dubai - Arabstoday

A glut of property supply in Dubai contributed to the steepest fall in consumer prices since records began four years ago, as a housing bubble that burst in 2009 continued to be felt in the wider economy, data showed on Thursday. Consumer prices in the UAE member fell 1.7 percent on an annual basis in February, as an inflow of new residential units pushed rents down. \"There might be some areas in Dubai where prices are picking up, but there is still an excess in supply in the market,\" said Liz Martins, senior economist at HSBC in Dubai. Dubai\'s aggressive building drive has resulted in oversupply, with thousands of new residential and commercial units still set to enter the Dubai real estate market, with prices plunging by up to two-thirds from their 2008 peak. Bullish growth came to a halt in 2009 when Dubai, home to the world\'s tallest tower Burj Khalifa, announced a US$25bn debt restructuring of conglomerate Dubai World. Weakness in the property sector and slow bank lending held inflation below 1 percent for most of last year and Dubai entered deflationary territory in January when consumer prices fell 0.7 percent compared to the previous year. February\'s figures showed a month-on-month decrease in consumer prices of 0.6 percent after a 0.9 percent fall in January, data from the Dubai Statistics Center showed. A Reuters poll in January showed that a nearly four-year decline in house prices in the UAE would not end this year and that prices would fall by a median 5 percent. Dubai only started to release monthly inflation figures at the beginning of 2009. Economy Minister Sultan bin Saeed al-Mansouri said on Wednesday that inflation in the UAE federation is not expected to exceed 2 percent in 2012. Analysts polled by Reuters in December forecast average inflation of 2.4 percent in 2012, up from 0.9percent in 2011. Growth in business activity in Dubai\'s non-oil private sector slipped slightly in February as expansion in output and employment weakened, a recent purchasing managers\' index showed. \"What we see in PMI for the UAE as a whole is that input prices are going up for companies but they are not being able to pass them on to consumers... That is testament to a slightly weaker demand climate here,\" Martins said. The International Monetary Fund said on Wednesday it expected UAE inflation to remain subdued at around 1.5 percent this year.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today du consumer prices in steepest slide Arab Today, arab today du consumer prices in steepest slide

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today du consumer prices in steepest slide Arab Today, arab today du consumer prices in steepest slide

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Trump: End of Daesh is in sight

GMT 20:29 2017 Monday ,23 October

Trump: End of Daesh is in sight
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday