(MENAFN) According to the figures released by the United Arab Emirates National Bureau of Statistics, the increase by more than 5 percent in the housing and utility costs led the UAE's inflation rate in December to increase to reach its highest level since February 2009, Arabian Business reported.
The data showed that the country's inflation rate rose to 3.1 percent in December compared with the same month in 2013 and up from 2.8 percent recorded in the previous month, as well as being above the average inflation rate of 2.33 percent in 2014, though it matched the rate in October, which was the highest for nearly 6 years.
The consumer price data showed that housing and utility costs, which account for over 39 percent of consumer expenses, jumped 5.4 percent from a year earlier in December and 1.3 percent in comparison with November.
Meanwhile the prices of food and drinks, which account for nearly 14 percent of the basket, rose 1.3 percent compared with December 2013 but fell 0.9 percent from the previous month.
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