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06 Nov 2018, Gergana Bencheva, EMIS Editor

UAE’s CPI inflation drops to 3.09% y/y in Sept

The UAE’s CPI inflation went down to 3.09% year-on-year for September 2018 from 3.86% on the year for August, CEEMarketWatch reported referring to data provided by the country’s statistics office. On a monthly basis, prices in September slipped by 0.6% following a 0.2% increase for August.

Sectorwise, prices in the housing and utilities industry declined by 4.4% on the year for September after a 3.9% decrease in August. Inflation in the transportation sector reached 12.93% in the ninth month of the year against almost 17% in August. The alcohol and tobacco sector saw inflation slightly rise to 86.78% versus 86.40% in August. Inflation in the clothing and footwear increased to 21.78% in September from 19.71% in August.

The UAE’s overall inflation in 2018 is higher than in 2017 which proves the recovery of the domestic demand and consumption. Yet, the Gulf state has become less attractive to foreigners due to an increase in living costs, CEEMarketWatch added.

Sign in and read the full article in emis.com, or find out more about EMIS. Original source: CEEMarketWatch - Daily News

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