| Kippreport.com

Abu Dhabi inflation hits lowest in 20 years

November 17, 2009 4:42 by kippreport

Abu Dhabi’s monthly rate of inflation has fallen to 0.98 percent over the first 10 months of 2009 as compared to 14.41 percent during the same period last year, according to a report issued by the Statistics Center – Abu Dhabi (SCAD). The inflation rate is the lowest in two decades, says the report, and forecasts that it will decline even further.

“This marked drop in the rate of inflation was the result of stabilization in the prices most major commodities and the decline in house rentals in the course of the last months,” the report says.

Tags: Abu Dhabi, decline, inflation