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FINANCIAL NEWS
Abu Dhabi August inflation cools to 1.2%
09 Sep 2012
(MENAFN) Recent official data showed that Abu Dhabi’s August inflation slowed to 1.2 percent, on a decline in hosing and utilities prices, Reuters reported.
According to Abu Dhabi Statistics Centre, prices in the restaurants and hotels category rose 22.4 percent from a year earlier last month, while food and non-alcoholic beverages rose 2.2 percent.
As for housing and utilities prices they declined by 2 percent, said the statistics centre.
In July, analysts forecasted average inflation in the UAE of 1.5 percent in 2012 after 0.9 percent in 2011.
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