FINANCIAL NEWS

Dubai’s 2009 inflation falls to 4.1%

16 Feb 2010

(MENAFN) A report issued by the Dubai Statistics Center showed that the emirate’s inflation rate has slowed to 4.1 percent in 2009, down from 11.3 percent in the prior year, Khaleej Times reported

The Dubai Chamber of Commerce and Industry said that such a slow pace of increase in consumer prices is likely to have a positive impact on the emirate’s economy this year.

A breakup of the Dubai General Consumer Price Index (CPI), according to the Dubai Chamber statement, showed that the housing, water, electricity, and gas and fuel expenditure group, which accounts for 43.7 percent of the index weight rose just 2.4 percent in 2009.

Telecommunications dropped the sharpest, down 0.17 percent, and the steepest rise was recorded by education expenditure at 18.6 percent.

Dubai Chamber said that the combination of falling rental and property prices will leave individuals and businesses with more disposable income.

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