Dubai's inflation moderates to 4.27pc in October

RIYADH, Nov 23 (Arab News): Dubai's inflation rate slightly eased to 4.27 per cent in October, compared to 4.5 per cent in the previous year, the official data showed.
The report from the Dubai Statistics Centre highlighted a 4.70 per cent annual increase in transport expenses driven by rising petrol prices.
Meanwhile, expenses for insurance and financial services experienced a rise of 8.97 per cent in October compared to the same month the previous year.
The report also highlighted a 6.07 per cent year-on-year increase in housing, water, electricity, as well as gas and fuel prices.
Additionally, food and beverage expenses saw a rise of 3.52 per cent, while prices for restaurant and hotel services increased by 2.94 per cent.
Official data indicated a 5.78 per cent decrease in tobacco product prices in October compared to the previous year.
Additionally, the report disclosed that the 4.27 per cent inflation rate recorded in October is higher compared to the 3.81 per cent in September 2023.
In August, Dubai's inflation rate was 2.3 per cent, while in July and June, it was 1 per cent and 2 per cent, respectively.
Emirates NBD's Senior Economist Jeanne Walters highlighted in an article that the increase in Dubai's CPI represents the fastest rate of inflation since March.