Arab Today, arab today dubai deflation eases to 12
Last Updated : GMT 17:46:26
Arab Today, arab today
Arab Today, arab today

Dubai deflation eases to 1.2%

Arab Today, arab today

Arab Today, arab today Dubai deflation eases to 1.2%

Dubai - Arabstoday

Deflation in Dubai eased to its lowest annual rate in four months in May, data showed, dipping to 1.2 per cent to extend the emirate’s longest period of price declines since inflation hit a record 10.8 per cent in 2008. Month on month prices rose 0.3 per cent, driven by higher food costs, ending a series of five monthly falls in the trade and business hub, Thursday’s Dubai Statistics Centre data showed. Annual price falls eased to 1.5 per cent in April from 1.9 per cent in March. Deflation is being mainly driven by a weak housing market, which has yet to recover from a property decline in late 2008, though the UAE uses price controls to keep some food costs low.   The property market remains oversupplied with new residential units following a $25 billion debt restructuring of a state-owned conglomerate in 2009-2010. Strong trade flows and tourist numbers helped Dubai’s economy, expand 3.4 per cent in 2011. “(It is) another benign monthly inflation figure driven by a rise in food prices,” Giyas Gokkent, chief economist at National Bank of Abu Dhabi, said in a note. “Dubai continues to experience deflation in the annual headline figures due to a decline in rents.”  Costs of housing including rents and utilities dipped 0.1 per cent month-on-month.

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 dubai deflation eases to 12 Arab Today, arab today dubai deflation eases to 12

 



Arab Today, arab today

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 dubai deflation eases to 12 Arab Today, arab today dubai deflation eases to 12

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today
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