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.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more