UAE inflation stable at 0.9 pct y/y in July

Consumer prices in the United Arab Emirates remained at a one-year high of 0.9 per cent on an annual basis in July for the third month in a row, data from the National Bureau of Statistics showed on Tuesday.

Analysts expected prices in the world's third largest oil exporter to pick up again this year as the Gulf country recovers from last year's slowdown.The second largest Arab economy is seen expanding by 2.1 per cent this year following an estimated 1.4 per cent contraction in 2009, lagging behind its regional peers due to impacts of Dubai debt restructuring .