Inflation in the UAE was 0.6 percent year-on-year in August, data from the National Bureau of Statistics showed Saturday. In August, consumer prices fell 0.14 percent month-on-month from July, data revealed. Housing costs fell 0.74 percent in August from July and was down 3.16 percent from August last year, mainly due to continued decline in rents in the country. Food prices rose 0.49 percent in August from July, which coincided with the month of Ramadan. Transport costs, the third largest basket component with a 10 per cent weight, inched up 0.01 percent from July but rose 1.5 percent from August 2010. Analysts polled by Reuters expected average inflation of 2.5 percent in 2011.
