Sunday, Sep 16, 2012
DUBAI (Zawya Dow Jones)--Annual inflation in the United Arab Emirates rose to 0.95% in August, from 0.46% in July, driven mainly by higher food and beverage prices, the National Bureau of Statistics said in an emailed statement on Sunday.
The food & non alcoholic beverages category of the consumer price index, or CPI, was up an annual 4.68% in August, while beverages and tobacco showed an increase of 5.42%.
The overall rise was mitigated by a drop in housing prices by 1.29% on year. The housing category is responsible for nearly 40% of the U.A.E.'s CPI.
U.A.E. government officials have repeatedly said they expect inflation to remain below 1.5% this year.
Write to Leila Hatoum at leila.hatoum@dowjones.com
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(END) Dow Jones Newswires
16-09-12 1027GMT
