Fuel prices account for 36% of inflation in UAE economy
Economic and property analysts have been proposing measures to combat the rise in inflation, the most recent of these proposals was the call for the UAE Ministry of Economy to put out an index that would calculate the inflation rate in a move to arrest spiraling inflation.
This proposal is under study, and some sources have revealed that, in a move unprecedented in the world, a survey system will be established to measure the inflation rate in the country every four months.
This revelation says a lot about what is to come. Having to calculate inflation every 4 months indicates that its out of control and they will have to seriously watch it to avoid civil unrest from the lower paid.
This is not a good place to take up employment at the moment. Negotiated salaries will be outdated before the employee begins work.
Its going to be bad, real bad.....