Consumer inflation in Abu Dhabi rose to 3.6 percent in the first six months of 2018 and is likely to increase 3.3 percent year-on-year in the third quarter of the year, according to the Statistics Centre – Abu Dhabi (SCAD).
According to SCAD report, the level of inflation in H1 is driven by the increase in the consumer price index to 111.9 percent, compared to 108 percent in H1 2017.
“On the other hand, a comparison of monthly price data reveals an increase of 3.3 percent in consumer prices in June 2018 compared with June 2017,” the report added. In addition, the CPI nudged to 0.5 percent in June 2018 compared with the previous month.
According to the report, the Abu Dhabi city area contributed 43.4 percent of the total 3.6 percent year-on-year increase in consumer prices observed during the first six months of 2018, as price levels in the region advanced by 2.7 percent. The Al Ain and Al Dhafra regions accounted for 49.1 percent and 7.5 percent, respectively.
Additionally, the report noted that consumer inflation was mainly driven by the transport group, which – with a 9.4 percent increase – contributed 36.4 percent to the overall increase in the CPI.
Other groups that contributed significantly to the increase in the CPI were clothing and footwear (19.6 percent), and miscellaneous goods and services (14.9 percent).
“On the other hand, the ‘housing, water, electricity, gas and fuel’ group detracted 32.5 percent from the overall increase in the CPI during the first six months of 2018, reflecting a 3.4 percent fall in house rents,” the report added.For all the latest UAE news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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