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Tuesday 02, September 2008 by

Inflation set to continue in the region: no pain, no gain

Rising inflation has become a critical issue for consumers, businesses and policy makers in the whole GCC region. Recent reports put consumer price (CPI) inflation at around 14 per cent in Qatar, and 11 per cent in the UAE in 2007. We expect the numbers to remain high this year as well, at 12 per cent in Qatar and 9 per cent in the UAE. This compares with average inflation rates below 5 per cent until the year 2003.