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FINANCIAL NEWS
Abu Dhabi CPI rise 2.1% by October
12 Nov 2011
(MENAFN) Statistics Centre Abu Dhabi (SCAD) unveiled a rise in consumer prices by 2.1 percent by October 2011, driven by rising food prices, Arabian Business reported.
According to the state-rub statistics agency’s figures, the consumer price index (CPI) rose 0.9 percent last month compared to October 2010, reflecting a 22-month low, while month-to-month prices rose 0.3 percent.
SCAD said that food and non-alcoholic drinks reflected 64.2 percent of the rise in the index during the first ten months of 2011.
It added that the largest increase within this group was in the prices of meat and coffee, tea and cocoa, which advanced by 14.3 percent each.
On the other hand, the clothing and footwear group witnessed a prices drop by nearly 15 percent compared to the same period a year earlier.
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