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FINANCIAL NEWS
Abu Dhabi inflation up 3.1%
20 Mar 2011
(MENAFN) Statistics Centre Abu Dhabi (Scad) reported that inflation rate amounted to 3.1 percent in February on an annual basis in Abu dhabi due to an increase in costs of food, transportation and housing, reported The National.
Reports showed that the main driver behind increasing inflation was the increase in prices of food by 9.92 percent, transportation prices by 11.04 percent, while costs of house equipment and maintenance increased by 8.08 percent.
Still, inflation is evaluated in the UAE as ‘moderate’ compared to 10 percent rates that were registered back in 2007 and 2008 prior to the global financial crisis.
Scad also reported that the price increase behind the 3.1 percent of inflation amounted only to 0.1 percent in February as a total.
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