Abu Dhabi inflation hits 3.2pc
ABU DHABI, February 29, 2016
Abu Dhabi recorded a consumer inflation of 3.2 per cent in January this year compared to the same period last year, data released by Abu Dhabi Statistics Centre said.
The UAE emirate has changed the base year for the data series to 2014 from 2007, which had the effect of lowering the inflation rate sharply, said a Reuters report.
The change in the base year reduced the weightage of housing and utilities in the consumer basket to 31.2 percent from 37.9 percent, among other changes.
This had the effect of lowering the inflation rate. In December, using the 2007 base year, consumer prices rose 0.4 percent month-on-month and 5.2 percent year-on-year, according to Reuters calculations.
In January, prices of housing and utilities jumped 8.2 percent while food and beverage prices increased 1.1 percent, the statistics centre said. - Reuters