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FINANCIAL NEWS
Abu Dhabi’s inflation rises by 1.4 percent in Q1
09 Aug 2015
(MENAFN) Abu Dhabi’s annual inflation rate surged by 1.4 percent in the first three months of the year, touching 0.5 percent and marking its highest level since the first quarter of 2014 when it reached 5.4 percent.
According to the Department of Economic Development, January of 2015 witnessed a sharp increase in the annual inflation rates of 5 percent and 4.6 percent in February compared to 2014’s rates.
The first-quarter figure was driven by the increases of water and electricity prices in the residential sector since January 2015, which represent the main factor behind inflation, and residential rents.
According to the reports issued by the Statistics Center, the rentals have increased during January 2015 by 9.7 percent compared to the January 2014, with the index reaching 109.7 points in January 2015.
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