By Henry Meyer
Food and beverage prices jump 2.9% in 12 months through March, education up 10.5%.
Annual inflation rose for the first time in four months in the United Arab Emirates in March, led by higher prices for food, beverages and education, the National Bureau of Statistics reported.
Inflation rose 0.68 percent in March from a year earlier and 0.1 percent compared with the previous month, after the UAE registered annual deflation in February, January and December.
Consumer prices were 0.68 percent higher in March than a year earlier, after falling 0.27 percent in February on a yearly basis, according to data posted on the bureau’s website on Sunday.
Food and beverage prices jumped 2.9 percent in the 12 months through March, education costs rose 10.5 percent and prices for furniture and other items increased 7.2 percent. (Bloomberg)
Now that Petrol prices have been increased by 28% over period of 1 month (1.37 to 1.75 for special), the inflation will rise even more. The price rise was smartly done in following steps a. Converted the unit of measure from Gallon to litre b. Increase rate by 14% in April c. Increase further 12% in May to make effective rate increase of 28% Except rents, all other prices in Dubai are increasing. Just that the rate of increase is not as crazy as it used to be prior to 2008. So expect a lot of hard times ahead as salaries are also reducing regards