Mar 17 2013
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UAE annual inflation up at 0.73% in Feb on higher food, beverage prices
Sunday, Mar 17, 2013
DUBAI (Zawya Dow Jones)--Annual inflation in the United Arab Emirates rose to 0.73% in February, up from 0.43% in January, mainly due to higher food and beverage prices, according to the country's national bureau of statistics.
The overall consumer price index, or CPI, reached 117.24 in February, up from 116.39 in the year before period, the agency said in an emailed statement on Sunday.
While the food and beverages components posted a rise, the increase was mitigated somewhat by a slight fall in housing prices, data showed. The housing category makes up nearly 40% of the U.A.E.'s CPI basket.
Inflation in the U.A.E. has remained subdued in the past few months, but a strengthening economy is expected to boost demand--especially in the housing sector, which may eventually lead to higher inflation, some analysts say.
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