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FINANCIAL NEWS
UAE inflation down to 0.9%
20 Jan 2011
(MENAFN) Inflation rate in the United Arab Emirates decreased by 0.9 percent over the course of the year of 2010 hitting its lowest annual level in the country after 1990, the year Gulf War started, reported Arab News.
Official figures also reported that consumer price increased by around one percent while most of companies owned by Dubai’s government suffered debt issues which weakened the property sector in the country.
It is worth noting that steady prices make the UAE more attractive to expats as they are currently able to save more money while working in the oil-rich country, especially that the did not receive any increase on salaries since the global financial crisis.
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