DUBAI / WAM
Dubai’s inflation rate fell 0.34 percent to 1.9 percent in January, compared to December last year, driven by a drop in transport costs, according to new figures released by the Dubai Statistics Centre.
The January inflation rate of the Consumer Price Index (CPI) for the emirate showed that transport cost inflation fell 2.66 percent.
Housing and utility costs, which account for almost 43.7 percent of consumer expenses, 0.46 percent in January.
The prices of clothing and footwear dropped by 4.13 per cent, while food and beverage prices, which account for 11 percent of the basket, climbed by 3.14 percent and prices in restaurants and hotels increased by 1.63 per cent in the same period.