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Inflation in the UAE Goes Down to 1.6%


UAE : 27 February 2011

The annual inflation rate in the United Arab Emirates slowed down a little to hit 1.6 percent in January. The drop of 0.3 percent in this month is mostly a result of declining food and housing costs, according to recent data from the National Bureau of Statistics.

It has been the expectation of analysts that the UAE, which is the third largest exporter of oil in the world, would experience steadily climbing prices as the Gulf nation experiences the recovery from debt issues in Dubai.

The UAE is the largest economy in the Arab world behind Saudi Arabia and is set to expand 3.6 percent in 2011, after a 2.3 percent expansion last year. These figures are slower than those in other regional economies thanks to the restructuring of debt in Dubai.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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