Dubai's inflation rate is set to hit 9.4 per cent this year, but will go down to 3.1 per cent next year due to an eminent correction for the property market in the emirate according to Steve Brice, regional head of research at Standard Chartered Bank. Speaking on the sidelines of a roundtable discussion, and cited by Gulf News, Brice conveyed that the rate was some 13 per cent in 2005, as property represents a significant portion in the price index.
Al Bawaba
