Monday 5 October 2015

Abu Dhabi inflation edges down in May

Abu Dhabi, June 15, 2014

Abu Dhabi's inflation edged to 2.8 per cent in May compared to 2.9 per cent the previous month, said a report.

The housing and utility costs, which account for 38 per cent of consumer expenses, surged 2.7 per cent year-on-year, according to figures released by the emirate's statistics centre.

The prices of food and soft drinks, which account for 16 per cent of the basket, too rose 1.8 per cent, it stated.

The furnishings, household equipment and household maintenance jumped 12.6 per cent, while restaurants and hotels climbed 6.7 per cent, said the data.

Analysts polled by Reuters in April forecast average inflation in the UAE would accelerate to 1.9 per cent in 2014 and 2.5 per cent in 2015 from 1.1 per cent in 2013, which was the highest level since 2009.-Reuters

Tags: UAE | abu dhabi | inflation |

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