Arab Today, arab today dubai consumer prices slow as housing falls most on record
Last Updated : GMT 19:53:22
Arab Today, arab today
Arab Today, arab today

Dubai consumer prices slow as housing falls most on record

Arab Today, arab today

Arab Today, arab today Dubai consumer prices slow as housing falls most on record

Dubai - Arabstoday

Consumer prices in Dubai, the second-biggest member of the United Arab Emirates, rose at a slower pace in July as housing and electricity prices tumbled the most on record. Consumer prices increased an annual 0.62 percent compared with 0.75 percent in June, according to data published Tuesday by the Dubai Statistics Center. Housing, water and electricity costs fell 3.5 percent, the most since May 2010. Food and non-alcohol prices rose at a slower pace last month, 6.1 percent, after that rate almost doubled in June. “The inflation outlook for the UAE will be capped on the upside with all this housing stock coming to the market,” said Shady Shaher, an economist with Standard Chartered in Dubai. “Yes, food prices are rising, but they are not giving that push for inflation; it continues to be capped by the housing component.” In 2009, Dubai sought $10bn from the UAE central bank and another $10bn from Abu Dhabi and its banks to help its state-owned companies after the global credit crisis suppressed property prices by more than half from their 2008 peak and frozen credit markets forced some of the emirate’s companies to delay loan payments.Property prices in Dubai, the Middle East’s worst performer for three years, have plunged more than 55 percent since mid-2008, according to Deutsche Bank.Consumer prices in Abu Dhabi, the capital, rose 2.3 percent in July from a year ago, the Statistics Center of Abu Dhabi said in an emailed statement today. Food and non-alcoholic beverage costs climbed 9.1 percent, mirroring the increase in global food prices.Economic growth will accelerate to about 3.5 percent in Abu Dhabi this year and to 3 percent in Dubai, the International Monetary Fund said in April.The National Bureau of Statistics said on Aug. 14 that inflation for the seven-emirate federation slowed to 1.3 percent in July from 1.7 percent the previous month. From / Arabian Business News

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 consumer prices slow as housing falls most on record Arab Today, arab today dubai consumer prices slow as housing falls most on record

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Egyptian tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Egyptian tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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