{
  "id": 18102617,
  "title": "UAE non-oil firms sharply raised prices in October amid rising confidence",
  "url": "https://urgent.news/2026/11/04/uae-non-oil-firms-sharply-raised-prices-in-october-amid-rising",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-04T10:00:01.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/economy/2026/11/04/uae-non-oil-firms-sharply-raised-prices-in-october-amid-rising-confidence/"
  },
  "original_language": "en",
  "account": "UAE non-oil businesses significantly increased their prices in October as they passed on higher operating costs to customers, while company confidence also surged, according to S&P Global Market Intelligence. The seasonally adjusted S&P Global UAE Purchasing Managers Index fell slightly to 54.8 in October from 55.3 in September, but remained above the 50 mark, indicating economic growth. Output prices saw the highest rise since the survey's inception in August 2009. Firms cited rising operating costs and the need to maintain profit margins as reasons for the price hikes. Costs for companies jumped at the fastest pace since June 2022, driven by higher prices for raw materials, fuel, energy, freight, maintenance, storage, and rent. David Owen, principal economist at S&P Global Market Intelligence, noted that the steep price increases reflected efforts to transfer cost burdens to customers. The PMI suggests a solid improvement in business performance, with new orders growing sharply and output rising strongly. Business confidence hit its highest level since January. However, employment levels dipped slightly, marking the third decline in the past five months as some firms trimmed staff to manage costs. New export work rose to the fastest rate in two years, but capacity remains limited, according to Owen. The UAE's economy has grown this year, driven by non-oil business activity, with real GDP increasing by 0.4 percent annually to Dh961.9 billion ($262 billion) in the first half of 2026. The non-oil sector's contribution to GDP rose by 1.8 percent to 79.2 percent. Looking ahead, non-oil firms are more optimistic, with year-ahead expectations reaching their highest since January. The surge in prices and business activity is expected to continue, despite challenges from regional conflict and rising costs. In Dubai, the PMI reached an eight-month high of 54.6, reflecting a strong improvement in business conditions, with new business volumes increasing at the joint-fastest rate since February.",
  "summary": "UAE non-oil businesses sharply raised their selling prices in October as firms passed on an increase in operating costs to consumers, while confidence among companies also soared last month. The seasonally adjusted S&P Global UAE Purchasing Managers' Index in September eased slightly to 54.8 in October, compared to 55.3 last month . But it remained above the 50 mark that indicates growth in…",
  "key_points": [
    "UAE non-oil firms raised prices sharply in October",
    "Cost pressures drove price increases to highest since 2009",
    "Business confidence hit highest since January"
  ],
  "editors_take": "Aggressive price hikes to protect profit margins signal a shift where businesses transfer rising operational burdens directly to consumers despite a broader surge in economic confidence and output.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}