Agency set up to monitor inflation

28 December 2007
The UAE government is to set up a new agency to monitor inflation levels in the country, according to Sultan Bin Nasser Al Suwaidi, governor of the Central Bank.

The move is an attempt to deal with widespread concern about the rising cost of living in the country. Inflation is thought to be around 10 per cent.

It follows confirmation from Economy Minister Sheikha Lubna al-Qasimi that the government is spinning off its statistics department into a separate bureau as part of plans to streamline the Ministry of Economy (MEED 24:12:07).

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