UAE inflation eases in February after jumping on new tax

DUBAI: Inflation in the United Arab Emirates eased slightly in February after jumping to a multi-year high in January when the government introduced a 5 percent value-added tax, official data showed on Sunday.

The annual inflation rate came down to 4.5 percent last month from 4.8 percent in January, which was the highest level since 2015. Month-on-month, consumer prices fell 0.2 percent in February after surging 2.7 percent in January.