UAE non-oil sector sees input cost rises to 11-year high in June: S&P Global

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Wed, 2022-07-06 15:40

RIYADH: Rising oil prices and inflationary pressures have taken a toll on the UAE’s non-oil economy, with businesses witnessing their input costs increasing at the fastest pace for 11 years at the halfway point of 2022, according to S&P Global. 

“UAE businesses came under increased pressure from rising input costs in June, as a surge in fuel prices drove the fastest rate of cost inflation in exactly 11 years,” said David Owen, an economist at S&P Global Market Intelligence.

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