Inflation in UAE
(News - Detail)
Date : 18.06.2008Inflation in the UAE is estimated at 12% while the rate in Abu Dhabi increased from 10,7% in December last year to 11,5% at the end of March. Inflation in Dubai is more than one year above 14%. These values are a 20-year high as Ministry of Economy reported. It is a result of increasing prices of energy, commodities, food in addition to the depreciating dollar. But the inflation in the housing is still higher and the report attributes the high figures to the increase in consumer prices, costly rents and fuel, and soaring costs of goods and services.
While rising liquidity, low interest rates and easy bank loans have contributed, the report observes that the declining value of the dollar, to which the dirham is pegged, has contributed to the rising cost of imports. According to the report, last year the country witnessed increases in housing rents, the cost of production and prices of goods and services. The index for rents, electricity and water was up 18,2% from a year earlier. The index for food, beverages and tobacco gained 19,8%.
Contacts :
Address:
CzechTrade Dubai
Jiří Zavadil
Dubai World Trade Center
7th Floor - Office No.21
P.O.Box 9204
Sheikh Zayed Road
DUBAI
United Arab Emirates
Jiří Zavadil
Dubai World Trade Center
7th Floor - Office No.21
P.O.Box 9204
Sheikh Zayed Road
DUBAI
United Arab Emirates
Contacts :
E-mail:
dubai@czechtrade.cz
WWW: http://www.czechtrade.ae
Phone: +971 4 3097018
Fax: +971 4 3097019
Fax: +971 4 3313493
WWW: http://www.czechtrade.ae
Phone: +971 4 3097018
Fax: +971 4 3097019
Fax: +971 4 3313493
