Sunday, August 24, 2008

Dubai's rising inflation....

Nothing highlights Dubai's inflations woes more than this simple parking rental ticket. Imagine my surprise at being charged AED 10/- just to park my car for a few minutes!! Look closer and you will note that the monthly rental is AED1200/-. Thats almost the same as the rent I paid for my small studio apartment only a few years ago!!

Official figures put the inflation figure at about 12% but the real figure could be as high as 18%. This of course depends on the cost components under the Consumer Price Index and the relative weightage to each component.

One thing is for sure. Cost of parking is certainly not part of the CPI.

5 comments:

Abu Dhabi/UAE Daily Photo said...

Insane, isn't it? I lived in Sharjah 10 years ago. It's like night and day.

Abid said...

wow...here in toronto, parking for an hour can cost as much as 10 dollars (37 AED)!

Someone in Al Ain said...

and yet it will be more and more and more

Dubai Photo Story said...

@abid: I guess its no so much the absolute value but the sheer change in such a short period of time that makes this parking rental ticket so interesting!!

I surely wouldn't want to park a car in Toronto!! at $10??? no way!! :-)

Stained said...

its used to cost 1200 per year about 18months back near my place....dunno how much it costs now!!!

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