Abu Dhabi – Mubasher: The UAE inflation declined 3.48% month-on-month in May, according to a report released by the Federal Competitiveness and Statistics Authority (FCSA).
The GCC country’s cost of living index grew to 111.08 points in May, compared to 107.3 points in the year-ago period.
Cost of housing, water, electricity and gas decreased by 2.5% MoM in the fifth month of the year, while the prices of food and beverages rose 2.6% MoM in the same period, the state-run statistics agency noted.
In May, the prices of the tobacco segment surged 83.5% MoM in the UAE, the FCSA’s data showed.
The UAE inflation went down 0.23% month-on-month in April, recording its third successive monthly decline.
