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Emirates' annual inflation slows in July

Consumer prices in Dubai and Abu Dhabi are growing at a slower pace, according to official statistics

Ahram Online, Wednesday 17 Aug 2011
An Emirati man passes in front of Frederick's of Hollywood at a shopping mall in Abu Dhabi, United Arab Emirates(Photo: AP)
Dubai Consumer Price Index (CPI) rose at a slower pace of 0.6 per cent in the year to July compared to 0.75 per cent in June, but fell 0.08 per cent on a month-on-month basis, data released by the Dubai Statistics Centre shows. 
Food price inflation in Dubai decelerated in July 2011, increasing 6.1 per cent year-on-year after rising 6.65 per cent the previous month. The contraction in housing costs widened to 3.5 per cent year-on-year in July, from 3.44 per cent in June. 
The Statistics Centre of Abu Dhabi (SCAD) also released consumer price data for that emirate, showing annual inflation rate decelerating. It rose by 2.3 per cent in the year to July, compared to 2.4 per cent in June. 
On a monthly basis Abu Dhabi inflation increased at a slower pace of 0.3 per cent in July, down from 0.5 per cent in June.
Communication costs, up 12.5 per cent in the year to July, contributed the most to the CPI, followed by food prices which grew 9.1 per cent year-on-year in July, up from 7.9 per cent in June.
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