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FINANCIAL NEWS
Abu Dhabi’s July inflation reaches 2.75%
15 Aug 2010
(MENAFN) A report issued by the Statistics Center � Abu Dhabi (SCAD) showed that the average rise in consumer prices in the emirate of Abu Dhabi last month was 2.75 percent year-over-year, Gulf News reported.
Inflation over the first seven months this year stood at 2.54 per cent, the centre said, adding that prices for housing, water, electricity and fuel have been the largest contributors to the overall price increase.
The main cause was a rise of 5.7 percent in house rents, which make up 87.7 percent of the total weight of the price basket.
SCAD’s calculations for the CPI for July used 2007 as the base year. On a year-on-year basis, the index advanced from 115.76 points in July last year to 118.95 points in July this year, it added.
The rise for the first seven months of this year pushed up consumer prices for national households by 1.93 percent, compared to 3.46 percent for non-national households and 1.63 percent for collective households, it said.
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