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FINANCIAL NEWS
Higher food prices cause inflation rate increase in Abu Dhabi
11 Jul 2013
The consumer price index (CPI) went up .5 percent in June compared with the prior month as a result of increase in food prices and in restaurants and hotels by 1.2% and 2.4 percent, respectively, according to the Statistics Centre- Abu Dhabi (SCAD), Khaleej Times reported.
Inflation rate accordingly rose by 0.9 percent in June in Abu Dhabi. Meanwhile, the IMF forecasted inflation to boost by 2.4 percent next year, and 2.5 percent in 2015.
It’s worth mentioning that prices of alcoholics and tobacco showed the highest boost of 8.5 percent, while restaurants and hotels showed the lowest of 2.4 percent.
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