Dubai: Inflation drops to four-year low

20/01/2012 - Dubai Investment News Posted by Neil King
Dubai: Inflation drops to four-year low

Dubai's residents are set to see their disposable income grow over the coming weeks after inflation fell to a four-year low.Official figures recently published the Dubai Statistics Centre have revealed that inflation has depressed to 0.52, the lowest rate since 2008.According to the report, the cost of housing, water, electricity, gas and other fuels fell by around 3.3 per cent in 2011.This compares to a fall of just 1.25 per cent fall in the previous year and a 2.4 per cent rise in 2009, leaving Dubai residents with more money in their pockets.The news comes shortly after Dubai Duty Free revealed that it enjoyed a record-breaking year in 2011, with sales of gold and perfume proving strong performers.A number of luxury brands have recently opened in the emirate and a new partnership between Damas and Tiffany & Co will see the US-based jewellers open several stores across the UAE in the coming months, further boosting Dubai's credentials as a leading retail destination.