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FINANCIAL NEWS
Abu Dhabi’s inflation accelerates in May
17 Jun 2010
(MENAFN) Abu Dhabi’s Department of Economic Development said that the emirate’s consumer price index (CPI) reached 118.22 points in May against 114.75 in the same month last year, Reuters reported.
The Center, part of the capital?s Department of Economic Development, said that the month-over-month rise in May was 0.28 percent, while it grew 2.33 percent in the January-May period.
Education led the upward trend, advancing 20.1 percent. Food and beverages rose 6.7 percent. Housing, water, electricity, gas and other fuels were up 5.5 percent, while transport jumped 5.1 per cent.
On the other hand, communications showed a decline of 11.3 percent, due to a drop in the prices of telephone and telefax services. The mail services, telephone and telefax equipment subgroups shed 11.3, 9.6 and 6.4 percent, respectively.
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