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UAE cbank gov says not concerned about inflation

Inflation not a concern, claims UAE authorities.

September 28, 2010 3:40 by

The United Arab Emirates central bank is not concerned about inflation in the Gulf oil producing country, its governor Sultan Nasser al-Suweidi said on Tuesday.

“No, for the UAE there is no concern,” he told reporters on the sidelines the Gulf central bankers meeting in Kuwait.

Annual inflation in the Gulf Arab state stayed at a one-year peak of 0.9 percent for the fourth straight month in August, but rose at the fastest monthly pace in 11 months on a food price jump.

(Reporting by Eman Goma; writing by Martin Dokoupil; Editing by Martina Fuchs)

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