FINANCIAL NEWS

Abu Dhabi’s Q1 inflation rises 0.9%

12 Apr 2012

(MENAFN) Statistics Center Abu Dhabi (SCAD) said that in the first quarter, average consumer prices in the emirate rose 0.9 percent from the same period a year earlier, reported Emirates 24/7.

The center added that prices of “Food and non-alcoholic beverages” group represented 84.4 percent of the increase in the index, followed by the “Restaurants and hotels” group, which accounted for 40 percent of the rise, as the group’s prices climbed 10.0 percent.

It also said that “Housing, water, electricity, gas and other fuels” group represented -32.4 percent of the overall change in the CPI index, with the average prices of this group declining by 0.7 percent.

Moreover, the “Clothing and footwear” group contributed -25.7 percent of the overall change in the index, with the average prices of the group dropping by 2.8 percent.

It is worth noting that Abu Dhabi’s CPI fell 0.4 percent in the quarter when compared with 2011’s final quarter, showing a downward change in the prices of “Food and non-alcoholic beverages”, which dipped by 1.9 percent.

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