Minimal Upside Risks To Inflation Forecasts

Recently released data from the National Bureau of Statistics has confirmed our view that consumer price inflation in the United Arab Emirates would remain weak through 2011, despite higher global commodity prices and a slight strengthening in domestic demand. In August, inflation hit an 18-month low of 0.6% year-on-year (y-o-y), down from 1.6% and 1.7% in July and June respectively.

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