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FINANCIAL NEWS
UAE posts 0.64% rise in H1 CPI
15 Aug 2012
(MENAFN) The UAE’s National Bureau of Statistics stated that the country’s Consumer Price Index, a main gauge of inflation, went up 0.64 percent in the first half of 2012 from the same period a year ago, reported Khaleej Times.
The agency said that the figure was driven by higher food prices, adding that food and soft drinks prices grew 7.1 percent, while beverages, tobacco and textiles prices went up 4.84 percent and 4.26 percent respectively.
The cost of education rose 3.77 percent, while the cost of furniture grew 3.79 percent and costs of restaurants and hotels rose 3.73 percent.
It is worth noting that housing rents during the period declined 3.65 percent and “recreational and cultural”, a subgroup of the CPI, fell 0.21 percent.
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