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Dubai’s October inflation reaches three month high

According to data by the Dubai Statistics Centre, the emirate's annual inflation rate rose to a three-month high of 0.3% in October as food prices climbed, but analysts said inflationary pressure remained modest, Reuters has reported. "It's another very weak print. Growth may have picked up a little this year, but domestic demand is still pretty subdued and there is still a lot of spare capacity in the economy, particularly in the real estate sector," said Simon Williams, chief economist for the Middle East and North Africa at HSBC.