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FINANCIAL NEWS
Abu Dhabi posts 1.2% average rise in Jan-May inflation
10 Jun 2012
(MENAFN) Statistics Centre Abu Dhabi (Scad) announced that during the January-May period, the emirate’s Consumer Price Index (CPI) rose by an average 1.2 percent from a year earlier, reported Khaleej Times.
The agency said that the increase in the CPI, which gauges inflation, was driven by higher food prices, with the food and non-alcoholic beverages group representing 67.2 percent of the overall CPI growth.
It added that prices of the restaurants and hotels group jumped 13.6 percent, to become the second-largest contributor to the CPI increase, with a share of 38.9 percent.
It is worth noting that in May, consumer prices in the UAE capital rose by 1.7 percent from 2011’s same period.
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