Housing costs in Abu Dhabi rose 0.6 per cent year on year in October. Above, a villa for lease near Khalifa Park in Abu Dhabi. Silvia Razgova / The National
Housing costs in Abu Dhabi rose 0.6 per cent year on year in October. Above, a villa for lease near Khalifa Park in Abu Dhabi. Silvia Razgova / The National

Higher rents and utility prices push up UAE inflation



Increases in the prices of alcohol, education and clothes pushed overall consumer prices higher across the UAE last month, according to the latest inflation data released yesterday.

Prices increased 1.3 per cent year-on-year last month, the National Bureau of Statistics report said.

Housing and utilities prices, which account for 39 per cent of the UAE’s inflation basket, gained 1.2 per cent year-on-year and 0.1 per cent from last month.

Housing costs in Abu Dhabi rose 0.6 per cent year on year in October, according to data released yesterday by Statistics Centre-Abu Dhabi (Scad).

The capital’s inflation rate last month rose 1.6 per cent year on year, led by an increase in the prices of beverages, tobacco, education and clothing.

But gains in housing prices and rentals this year were still not reflected in the capital’s official data.

“Inflation continues to remain low overall, with the rise in rental prices not yet fully filtering into the inflation data,” said Monica Malik, the chief economist of private bank EFG-Hermes.

“Moreover, a strong dollar and weak global inflation are helping keep imported inflation down despite the strong domestic demand environment.”

Indeed, Abu Dhabi’s inflation rate last month dropped 0.2 per cent from September, Scad said. The UAE’s national inflation rate decreased 0.1 per cent month on month, according to the bureau.

Alcohol and tobacco prices gained 8.5 per cent last month from the same period last year, while education prices rose 3.9 per cent while clothing and footwear prices increased 3.8 per cent, Scad said.

Food and non-alcoholic beverage prices climbed 3 per cent, it said.

Inflation has remained relatively weak since the global financial crisis tightened the availability of credit and weakened the property market. But house prices have rebounded sharply this year as confidence returns to the market and stalled projects restart.

The rental rates for mid-range villas and apartments have accelerated by 20 to 30 per cent in the first nine months of the year compared to the year-earlier ­period.

Elsewhere, UAE food and soft-drink prices, which account for nearly 14 per cent of the inflation basket, rose 1.9 per cent on an annual basis in October but fell 0.7 per cent from September, the bureau said. In Abu Dhabi, restaurant and hotel prices rose 2.4 per cent while recreation and cultural entertainment prices fell 0.7 per cent, according to Scad.

According to a Reuters poll of analysts in September, the UAE was forecasted to have an average inflation growth of 1.5 per cent this year and 2.3 per cent next year, up from the 0.7 per cent clip in 2012, which was the lowest level of inflation since 1990.

mkassem@thenational.ae

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Engine: 5.0-litre supercharged V8

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UAE players with central contracts

Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

Our Time Has Come
Alyssa Ayres, Oxford University Press

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Birthday: February 22, 1956

Born: Madahha near Chittagong, Bangladesh

Arrived in UAE: 1978

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Ireland (15-1):

Ireland (15-1): Rob Kearney; Keith Earls, Chris Farrell, Bundee Aki, Jacob Stockdale; Jonathan Sexton, Conor Murray; Jack Conan, Sean O'Brien, Peter O'Mahony; James Ryan, Quinn Roux; Tadhg Furlong, Rory Best (capt), Cian Healy

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Founder: Arjun Mohan

Based: Dubai

Size: 23 employees 

Funding: Raised $5.8m in a seed fund round in December 2018. Backers include Y Combinator, Beco Capital, Venturesouq, Paul Graham, Peter Thiel, Paul Buchheit, Justin Mateen, Matt Mickiewicz, SOMA, Dynamo and Global Founders Capital

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Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

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Saturday (all times UAE)

England v Australia, 11.15am 
New Zealand v Ireland, 2.15pm

Sunday

Wales v France, 11.15am
Japan v South Africa, 2.15pm

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Basquiat in Abu Dhabi

One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi. 

The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier. 

It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.  

“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi. 

Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October

Related
Plan to boost public schools

A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.

It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.

Aspects of the school model will be extended to international private schools, the education minister has previously suggested.

Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.

Series result

1st ODI Zimbabwe won by 6 wickets

2nd ODI Sri Lanka won by 7 wickets

3rd ODI Sri Lanka won by 8 wickets

4th ODI Zimbabwe won by 4 wickets

5th ODI Zimbabwe won by 3 wickets

'The worst thing you can eat'

Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.

Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines: 

Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.

Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.

Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.

Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.

Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.

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Price, base: Dh306,500
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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Scoreline:

Manchester City 1

Jesus 4'

Brighton 0

PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

The specs
Engine: 2.4-litre 4-cylinder

Transmission: CVT auto

Power: 181bhp

Torque: 244Nm

Price: Dh122,900 

Match info

Wolves 0

Arsenal 2 (Saka 43', Lacazette 85')

Man of the match: Shkodran Mustafi (Arsenal)

Racecard

6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m

7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m

7.40pm: Handicap (TB) $135,000 (D) 1,200m

8.15pm: Balanchine Group Two (TB) $250,000 (T) 1,800m

8.50pm: Handicap (TB) $135,000 (T) 1,000m

9.25pm: Firebreak Stakes Group Three (TB) $200,000 (D) 1,600m

10pm: Handicap (TB) $175,000 (T) 2,410m

The National selections: 6.30pm: RM Lam Tara, 7.05pm: Al Mukhtar Star, 7.40pm: Bochart, 8.15pm: Magic Lily, 8.50pm: Roulston Scar, 9.25pm: Quip, 10pm: Jalmoud

RESULTS

6.30pm Handicap (TB) US$65,000 (Dirt) 1,400m

Winner Golden Goal, Pat Dobbs (jockey), Doug Watson (trainer)

7.05pm Dubai Racing Club Classic Listed Handicap (TB) $88,000 (Turf) 2,410m

Winner: Walton Street, William Buick, Charlie Appleby.

7.40pm Dubai Stakes Group 3 (TB) $130,000 (D) 1,200m

Winner Switzerland, Tadhg O’Shea, Satish Seemar

8.15pm Singspiel Stakes Group 3 (TB) $163,000 (T) 1,800m

Winner Lord Giltters, Adrie de Vries, David O’Meara

8.50pm Al Maktoum Challenge Round-1 (TB) $228,000 (D) 1,600m

Winner Military Law, Antonio Fresu, Musabah Al Muhairi.

9.25pm Al Fahidi Fort Group 2 (TB) $163,000 (T) 1,400m

Winner Land Of Legends, Frankie Dettori, Saeed bin Suroor

10pm Dubai Dash Listed Handicap (TB) $88,000 (T) 1,000m

Winner Equilateral, Frankie Dettori, Charles Hills.

Malcolm & Marie

Directed by: Sam Levinson

Starring: John David Washington and Zendaya

Three stars

NBA FINALS SO FAR

(Toronto lead 3-2 in best-of-seven series)

Game 1 Raptors 118 Warriors 109

Game 2 Raptors 104 Warriors 109

Game 3 Warriors 109 Raptors 123

Game 4 Warriors 92 Raptors 105

Game 5 Raptors 105 Warriors 106

Game 6 Thursday, at Oakland

Game 7 Sunday, at Toronto (if needed)