Property recovery driving up UAE inflation - The National

Property recovery driving up UAE inflation - The National:

"Rising rents and utility costs are driving inflation across the Emirates to its highest level in two years as Dubai’s property recovery spreads to secondary locations, data released yesterday show.

In Dubai, which is recording the biggest jump in rents and which also reported its own price index data yesterday, housing and utility costs rose 1.4 per cent over the year and 0.2 per cent during the month, the Dubai Statistics Centre revealed. Housing costs account for almost 44 per cent of consumer expenses in the emirate’s calculations. The overall change was 1.6 per cent year on year.

Rents in Dubai have been increasing steadily throughout this year as landlords hit by the global financial crisis have sought to take advantage of improving sentiment in the emirate."

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