Abu Dhabi June inflation 11.3%
Annual inflation in Abu Dhabi, the largest member of the United Arab Emirates federation, rose to 11.3% at the end of June from 8.3% at the end of 2006, the official news agency WAM reported on Tuesday.
Rents and fuel costs drove the increase, the agency said, citing official figures.
Inflation in the UAE, the world's sixth largest oil exporter, hit a 19-year high of 9.3% in 2006.
With the UAE dirham pegged to the US dollar, the central bank usually shadows US interest rate moves, hampering the fight against inflation. Source
Rents and fuel costs drove the increase, the agency said, citing official figures.
Inflation in the UAE, the world's sixth largest oil exporter, hit a 19-year high of 9.3% in 2006.
With the UAE dirham pegged to the US dollar, the central bank usually shadows US interest rate moves, hampering the fight against inflation. Source
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