Suwaidi Says U.A.E. Inflation Will Be About 2% This Year - Bloomberg

United Arab Emirates central bank Governor Sultan bin Nasser al-Suwaidi expects an inflation rate of about 2 percent this year.
“The sources of inflation in the U.A.E. are under control,” he told reporters today in Muscat, Oman. “Real- estate prices and rents are stable, so there’s no domestic reason for it to rise.”
Annual consumer-price inflation was 0.2 percent in 2011 after hitting a high last year of 1.7 percent in June, according to the National Bureau of Statistics. Inflation in the U.A.E. will probably remain moderate because rents, which account for 40 percent of the inflation basket, are declining, the International Monetary Fund said last May.

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