Business | Economy
Abu Dhabi inflation makes dramatic fall
Figure shows drop in global commodity prices
- Staff Report
- Published: 00:00 January 26, 2010
Abu Dhabi: Inflation in Abu Dhabi registered just 0.8 per cent for 2009 compared to 14.8 per cent in 2008, reflecting the fall in commodity prices as the global financial crisis took hold, the Statistics Centre of Abu Dhabi (Scad) reported yesterday.
Food and clothing prices fell on average by 3 and 6 per cent, respectively, while education registered an 11 per cent increase. Housing and utilities recorded a 5 per cent rise, according to Scad's statement.
Economists expect low inflation rates to continue through 2010, but at slightly higher levels.
The National Bank of Abu Dhabi expects Gulf countries, including the UAE, to register low single-digit inflation figures as their economies rebound from the 2009 downturn.
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