Dubai: According to the survey conducted by the online data-based company Numbeo, reports indicate a rise in the cost of living in the UAE. Calculated on the basis of the first half of the year, the cost of living in Dubai and Abu Dhabi has been hiked. As per the survey, the cost-of-living index in Dubai escalated from 138 to 70 in June, while Abu Dhabi rose to 75, which was 164 in January.

As nearly all the daily necessities are being imported from overseas into the country, global factors have also affected inflation, according to the report. The petrol rates, which were 2.71 AED per liter in January, surged to 3.22 AED in May. In spite of the drop in June, the rate has not returned to the rates of January. The pandemic has also played a major role in the price hikes.

Within 5 months, 2.55 lakh tenancy agreements were registered in Dubai, which is 6% more than the previous year. The inflation rate rocketed to 111.34 in May from 109.91 in January.

It has affected every sector, including water, electricity, health, education, transportation, and many more. This has placed a hook on middle-class families.

The UAE was also featured along with high-income countries like the US, Canada, Japan, South Korea, and Australia. The country has introduced a lot of versatile health and education insurance to enhance the quality of life of the country’s natives as well as the foreigners.