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UAE July CPI slows to a 3-mth low of 1.3 pct y/y

UAE July CPI slows to a 3-mth low of 1.3 pct y/y

Consumer prices in the United Arab Emirates slowed to a three-month low of 1.3 percent on an annual basis in July from 1.7 percent in June and fell 0.2 percent

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August 14, 2011 2:16 by



Consumer prices in the United Arab Emirates slowed to a three-month low of 1.3 percent on an annual basis in July from 1.7 percent in June and fell 0.2 percent on the month mainly due to a drop in housing costs, data from the National Bureau of Statistics showed on Sunday.
Analysts expected prices in the world’s third largest oil exporter to pick up gradually this year as the Gulf country recovers from Dubai debt woes.
The second largest Arab economy is seen expanding by 3.7 percent this year .
(Reporting by Martina Fuchs; Editing by Martin Dokoupil)



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