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FINANCIAL NEWS
Abu Dhabi inflation drop on lower petrol
14 Nov 2015
(MENAFN) Abu Dhabi’s consumer price index dropped 0.6 per cent month-on-month in October as a result of cuts in petroleum prices.
The largest falls recorded in October compared with September were observed in the transport group which dropped 4.5 per cent followed by food and beverages that fell 2.3 per cent.
At the moment in the UAE inflation is mainly driven by housing transportation and food.
Since rents are expected to decline and since gasoline prices that are adjusted to international benchmark have declined during October and November the cost of living and inflation is expected to drop as well.
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