UAE inflation eases in February after jumping on new tax

Dubai: Inflation in the UAE eased slightly in February after jumping to a multi-year high in January when the government introduced a 5 per cent value-added tax (VAT), official data showed on Sunday.

The annual inflation rate came down to 4.5 per cent last month from 4.8 per cent in January, which was the highest level since 2015.

Month-on-month, consumer prices fell 0.2 per cent in February after surging 2.7 per cent in January.