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FINANCIAL NEWS
Abu Dhabi reports 1.1% rise in 2012 inflation
14 Jan 2013
(MENAFN) Statistics Center Abu Dhabi (SCAD) stated that inflation in the emirate in 2012 rose by 1.1 percent from a year earlier, reported Gulf News.
The agency said that in December, inflation went up by 0.7 percent on annual basis.
The restaurants and hotels group recorded the highest rise in prices in December, with a gain of 14.5 percent, followed by clothing and footwear group, which edged up 4, alcoholic beverages and tobacco, with an increase of 11.7 per cent and transport up by 3 percent.
On the other hand, housing, water, electricity and gas prices fell by 1.1 percent in the month.
As for full year 2012, restaurants and hotels group also reported the biggest rise in prices, which climbed 16.4 percent, accounting for 51.8 percentage points of the total increase.
Meanwhile, the food and non-alcoholic beverages group contributed with 44.8 percentage points of the growth, on the other hand, housing, water, electricity, gas and other fuels posted a drop of 1.3 percent, deducting 45.7 percentage points from the overall change in the Consumer Price Index (CPI).
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