UAE: Dubai inflation increases in August as housing prices surge
Housing prices surge: Dubai inflation came in at 3.4% in August, up from July’s 3.3%. Food price pressures hit their highest level since March, while housing prices soared at the third-sharpest rate since records began in January 2010, reflecting pressures arising from booming population growth.
The trend pointed up mildly, with annual average inflation coming in at 3.6% in August (July: 3.5%).
Finally, consumer prices in Dubai rose 0.56% in August over the previous month, swinging from July’s 0.08% drop. August’s figure was the highest reading since April.