True, but am thinking more implementation time or hassle. If you're just trying to implement something quickly, such as on-screen debug text, it's a lot faster to do it with one UILabel. The following would be similar to how tabs (\t) work where [+100] jumps to 100 pixels from left of element.
1) add UILabel object
2) add code that outputs something like "value[+100]value[+200]value\nvalue[+100]value[+200]value"
Compare to with a UIGrid and row Prefab.
1) add a Prefab GameObject
2) add one UILabel per column, with appropriate dimensions
3) add UIGrid object
4) add code that looks like:
* AddChild(prefab)
* UILabel[] columns = GetChildren()
* columns[0].text = value; columns[1].text = value; columns[2].text = value;
Once the prefab is setup, I'll grant it's pretty easy to use and work with. But if you want something quick & dirty, the "tabs" approach is better.