Wednesday 22 August 2018
 
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Abu Dhabi inflation surges to 3.6pc in H1

ABU DHABI, 29 days ago

Consumer inflation in Abu Dhabi, UAE for the first six months (H1) of 2018 rose to 3.6 per cent compared with the same period of 2017, driven by the increase in the Consumer Price Index (CPI) to 111.9 per cent, up from 108 per cent during the first half of 2017, a media report said.

The CPI is likely to increase by 3.3 per cent year-on-year in the third quarter of 2018, reported Emirates news agency Wam, citing estimates released by Statistical Center - Abu Dhabi (SCAD).

A comparison of monthly price data revealed an increase of 3.3 per cent in consumer prices in June 2018 compared with June 2017.

“In addition, the CPI nudged up 0.5 per cent in June 2018 compared with the previous month,'' said the SCAD monthly report on the CPI and the inflation rate in the Emirate for June and the first six months of 2018, with 2014 fixed as the base year.

''Abu Dhabi region contributed 43.4 per cent of the total 3.6 per cent y-o-y increase in consumer prices observed during first six months of 2018 as price levels in the region advanced by 2.7 per cent, while Al-Ain and Al Dhafra regions accounted for 49.1 per cent and 7.5 per cent, respectively, of the total consumer inflation recorded during the first half of 2018,'' the report noted.

It indicated that consumer inflation during the first six months of 2018 was driven mainly by the transport group, which increased by 9.4 per cent, contributing 36.4 per cent of the overall increase in the CPI. Another key contributor to the rise in consumer prices during the period under review was the ‘Clothing and footwear’ group, which accounted for 19.6 per cent of the overall increase in the CPI during the first six months of 2018 compared with the same period of 2017, reflecting a 14.1 per cent surge in the group’s prices.

''The ‘Miscellaneous goods and services’ group contributed 14.9 per cent of the overall increase in the CPI for the first six months of 2018 compared with the same period of the previous year, as the prices of the group soared by 7.6 per cent. On the other hand, the ‘Housing, water, electricity, gas and fuel’ group detracted 32.5 per cent from the overall increase in the CPI during the first six months of 2018, reflecting a 3.4 per cent fall in house rents,'' the report added.




Tags: Abu Dhabi inflation | Consumer price index | CPI | SCAD |

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