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FINANCIAL NEWS
UAE inflation rises to 1.2% in September
31 Oct 2010
(MENAFN) The UAE’s inflation has edged up to a 16-month high of 1.2 percent on an annual basis in September, after staying at 0.9 percent for four consecutive months, Reuters reported.
Consumer prices jumped 0.9 percent on the month in September mainly on soaring food and transport costs, the data from the National Bureau of Statistics showed.
Analysts expected prices in the world’s third largest oil exporter to pick up gradually this year as the Gulf country recovers from last year’s slowdown.
The second largest Arab economy is seen expanding by 2.4 percent this year, lagging behind its regional peers due to impacts of Dubai debt restructuring.
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