United Arab Emirates inflation accelerated in April to the fastest pace in almost a year, led by higher prices for food, beverages and transport. The inflation rate rose 0.78 percent in April, the National Bureau of Statistics reported on its website Thursday. Consumer prices fell 0.03 percent from the previous month. The inflation rate was 0.68 percent in March and the country reported deflation in February, January and December. Food and beverage prices jumped 1.24 percent in the 12 months through April, transportation costs rose 1.12 percent and prices for miscellaneous goods and services increased 1.02 percent, the statistics bureau said, Inflation across the Gulf states slowed last year from 2008 records as the financial crisis lowered housing costs and food prices. Debt restructuring in the UAE member Dubai is expected to keep price pressures in the second-largest Arab economy muted this year as it continues to recover from last year's downturn. The heavyweight food and non-alcoholic beverages component rose 4.52 percent in April compared to a year earlier, while the housing material and appliances item of the index rose 7.27 percent. Prices declined slightly on a monthly basis, the data showed, edging down 0.03 percent, weighed down by falling housing costs. The key housing and utilities component declined 0.69 percent in April compared to March, while the clothing and shoes item fell 0.96 percent month-on-month. The central bank has said inflation, which hit 12.3 percent in 2008, would stay low.
