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UAE inflation hits nine-year low

UAE inflation hits nine-year low. (SUPPLIED)

By Reuters

UAE inflation hit a nine-year low of 1.5 per cent in 2009, in line with forecasts, as prices returned to a downward path in December due to a fall in the household category, preliminary data showed.

The global crisis ended an oil- and real estate-fuelled boom in the region, depressing consumer prices from record peaks in 2008, with the UAE experiencing temporary deflation in 2009. The country's consumer prices fell 0.4 per cent on an annual basis in December, according to data from National Bureau of Statistics.


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