UAE annual inflation drops to 0.43% in Jan on lower housing prices

Annual inflation in the United Arab Emirates fell slightly to 0.43% in January, from 0.66% in December, driven by mainly by a decrease in the housing component, the country's national bureau of statistics said in an emailed statement on Sunday.

A rise in the food, beverages and tobacco, and transportation prices were mitigated by housing prices, which dropped a 1.64% on year. The housing category makes up nearly 40% of the U.A.E.'s overall Consumer Price Index.

The food & soft drinks category of the CPI, was up an annual 2.93% in January, while beverages and tobacco showed an increase of 17.24%.

Read more: http://www.zawya.com/story/UAE_annual_inflation_drops_to_043_in_Jan_on_lower_housing_prices-ZW20130303000044/