The United Arab Emirates topped the global ranking in the low inflation rate index, according to the Global Competitiveness Report issued by the World Economic Forum for the year 2021.
The center stated that the fluctuation of inflation between (-5%) and (5%) is considered a healthy indicator for the economies of countries, as its rise to the limits of 5% indicates the recovery of the economy And evidence of its growth, while its decline to (-5%) is an attractive factor for tourists, as it reflects the decline in the prices of goods and services, according to Al Bayan newspaper.
The Federal Competitiveness and Statistics Center stated, in the report, that the UAE maintained, during the past five decades, moderate annual inflation rates that reflected economic stability, the efficiency of the state's fiscal policy, and its ability to contain Any domestic or external inflationary pressures, especially during the inflationary waves that the world witnessed during the last period.
He explained that all these factors qualified the UAE to take the lead in the competitive index of consumer price inflation, according to the report of the Global Competitiveness Yearbook issued by the International Institute for Management Development for the year 2020. Also, the Global Competitiveness Report issued by the World Economic Forum for the year 2021.
The Center indicated that the data on the development of inflation rates for spending on 5 major commodity groups on an annual basis during the period from 2010 to 2020, indicate the stability of consumer prices within their normal range, Where the inflation rate in 2020 reached about (-2.08%), (4.07%) in 2015, (0.88%) in 2010, (6.19%) in 2005, (1.3%) in 2000 and (4.35%) in 1995.