Abu Dhabi in­fla­tion up 1.4% in first quar­ter

The Pak Banker - - BUSINESS -

ABU DHABI: The an­nual in­fla­tion rate for the Abu Dhabi has in­creased dur­ing the first quar­ter of 2015 by 1.4 per cent com­pared to the fourth quar­ter of 2014, reach­ing about 5.0 per cent, and recorded its high­est level since Jan­uary 2014 dur­ing the month of March, which is 5.4 per cent. Ac­cord­ing to the eco­nomic per­for­mance re­port of Abu Dhabi, is­sued by the Di­vi­sion of Stud­ies in the Depart­ment of Eco­nomic De­vel­op­ment ( DED) in Abu Dhabi, the first months of 2015, in gen­eral, wit­nessed a sig­nif­i­cant in­crease in the an­nual in­fla­tion rates that reached 5.0 per cent in Jan­uary and 4.6 per cent in Fe­bru­ary com­pared to the av­er­age in­fla­tion rate dur­ing 2014 amount­ing to about 3.2 per cent, and to 1.3 per cent in 2013.

The in­fla­tion rate dur­ing the first quar­ter of 2015 was in­flu­enced by rise in rents and wa­ter and elec­tric­ity prices. On the other hand, the hous­ing, wa­ter, elec­tric­ity, gas and other fu­els group con­trib­utes by about 37.9 per cent of the weight of the ma­jor ex­pen­di­ture groups of the goods bas­ket form­ing the Con­sumer Price In­dex (CPI) in the emi­rate, DED said in a state­ment.

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