PPRuNe Forums - View Single Post - Inflation Inflation! EK what to expect?
View Single Post
Old 5th Mar 2008, 03:13
  #97 (permalink)  
Gulf News
 
Join Date: May 2005
Location: Jew-Buy Mate
Posts: 191
Likes: 0
Received 0 Likes on 0 Posts
Ouch

This little gem just in. Probably a bit alarmist but even if half true it is cause for concern. Especially if articles like this are getting official sanction in a generally censored and "good news only" environment.


http://www.gulfnews.com/business/Com.../10194903.html


Food price inflation in UAE could hit 40%
By Ahmed A. Elewa, Senior Reporter
Published: March 05, 2008, 00:37


Abu Dhabi: Food price inflation in the UAE could rise up to 40 per cent this year from the already high 27 per cent, a top official said.

"The inflation rate of food prices in the UAE was between 27 and 30 per cent in 2007, according to a survey concluded by Emirates Consumer Protection Society (ECPS). This figure can rise to 40 per cent in 2008, unless strong government intervention takes place by introducing a basket of efficient measures," Dr Jamal Al Saeidi, director of ECPS, said. He demanded increased government subsidies on fuel.
Gulf News is offline