UAE inflation will accelerate to 10.1% this year before easing to 8.9% in 2008, the poll showed. Prices rose 9.3% in 2006, the fastest pace in 19 years.
http://www.arabianbusiness.com/50640...in-2008-?ln=en
2006 = 9.3%
2007 = 10.1%
2008 = 8.9%
Total = 27.3%
So Basically 19.4% in the last 2 years. How much pay raise did we get? About 10% a year? (Can't count the 3% since it is not a pay raise but a salary increment) Just enough to keep up with inflation. What if we consider exchange rate? And what if we consider the cost neutral changes to the credits. You end up working more for your money.
So finally it comes to light that we end up making less today than 2 years ago. What's in store for 2008? My guess 10% + 3%
So really, are we making more money then 2 years ago?
What do you think?