UAE December CPI up 2.5% year-on-year

DUBAI: United Arab Emirates' (UAE) consumer price index (CPI) rose 2.5% in December from a year earlier, fueled by higher food and beverages prices, according to government data released on Wednesday.

The food and beverages' segment of the index rose 3.71% in December from a year earlier.

CPI rose 0.02% month-on-month in December, government data showed.

UAE largest bank makes record profit in 2021

The UAE central bank said in its quarterly report on the economy that inflation rate turned positive in the fourth quarter due to higher energy prices and consumer demand.