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FINANCIAL NEWS
Abu Dhabi reports 1.3% gain in Jan-July CPI
16 Aug 2012
(MENAFN) Statistics Center Abu Dhabi (SCAD) stated that the emirate’s consumer price index (CPI), a main gauge for inflation, rose 1.3 percent in the January-July period from a year earlier to 122.5 points, reported Emirates 24/7.
SCAD added that the ‘Food and non-alcoholic beverages’ group contributed 61.3 percent to the overall rise in the CPI, with most of the group’s subgroups posting increases in their prices in the mentioned period.
It said that the ‘Restaurants and hotels’ group came second, accounting for 44.2 percent of the rise in consumer prices, with the group’s prices jumping 16.1 percent.
The ‘Furnishings and household equipment and routine maintenance of houses’ made up 11.1 percent of the CPI increase, with the group’s prices growing 3 percent from the previous year.
It is worth noting that the ‘Housing, water, electricity, gas and other fuels’ was the main group that decelerated the growth in consumer prices, with a contribution of -38.3 percent of the overall change in the index, as the group’s prices dropped by 1.3 percent on average from 2011’s same period.
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