Tuesday, 18 October 2011 at 14:26, Reuters, Abu Dhabi
Analyst expect consumer prices in UAE to pick up gradually this year as the country recovers from Dubai debt crisis. (AFP)
Consumer prices in the United Arab Emirates rose 0.4 per cent month-on-month in September, the fastest pace in three months, mainly because of higher food and education costs, data from the National Bureau of Statistics showed on Tuesday.
The statistics office has yet to release the annual inflation figure for September.
Analysts have expected prices in the world's No 4 oil exporter to pick up gradually this year as the Gulf country recovers from the Dubai debt crisis, although the UAE has introduced measures to curb food prices, including bread and rice subsidies.
The UAE economy is expected to grow by 4.2 per cent in real terms this year, expanding from 1.4 per cent growth in 2010, the statistics bureau said earlier on Tuesday.
UAE central bank governor Sultan Nasser al-Suweidi said in June that inflation was likely to be lower than 3 per cent as the real estate sector remained under pressure.
"Food prices are relatively easing globally - moving forward we might see this number decrease. Inflation is not a worry right now. I don't think we'll see further pressure in the fourth quarter," says Mahdi Mattar Chief economist at CAPM Investments.
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