Abu Dhabi inflation up 1.4% in first quarter
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.