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Abu Dhabi launches new price index
Abu Dhabi has launched an index to monitor price trends of essential commodities.
The index, prepared by the statistics unit, will monitor price trends by providing scientific and accurate data, UAE daily Gulf News reported on Sunday.
The index will be published monthly initially and will contain the prices of various commodities recorded at major stores around the city, the newspaper reported, citing a statement from Abu Dhabi’s Department of Planning and Economy.
The index has been constructed from data collected through a survey of family income and spending conducted in 2007.
That study identified some 53 key items in the family consumption basket with food, beverages and tobacco accounting for a major share of family spending in Abu Dhabi.
The consumption trends showed that items such as bread and cereals, beef and poultry products, fish, milk, cooking oil, vegetables, sugar, tea, coffee and other beverages topped the shopping baskets of Abu Dhabi families.
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Comments 1-1 of 1
Posted by Hombil, Muscat, Oman on 15 July 2008 at 16:41 UAE time
Very good move by Abu Dhabi government. Is this at federal level or emirate level?
Tobacco is included in this study. With smoking being discouraged (and banned), this item should be removed from the study, since tobacco related consumption is not a necessity nor is it part of a family's grocery budget.
Rent (or mortgage in case of ownership) should be included in this study, since this element forms a major part of the monthly expenditure.
Abu Dhabi's example should be followed by other emirates and GCC.