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FinancialNews


  • 10-06-12

    Abu Dhabi posts 1.2% average rise in Jan-May inflation

    (MENAFN) Statistics Centre Abu Dhabi (Scad) announced that during the January-May period, the emirate's Consumer Price Index (CPI) rose by an average 1.2 percent from a year earlier, reported Khaleej Times. The agency said that the increase in the CPI, which gauges inflation, was driven by higher food prices, with the food and non-alcoholic beverages group representing 67.2 percent of the overall CPI growth. It added that prices of the restaurants and hotels group jumped 13.6 percent, to become the second-largest contributor to the CPI increase, with a share of 38.9 percent. It is worth noting that in May, consumer prices in the UAE capital rose by 1.7 percent from 2011's same period.

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