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Petrol prices drop hits Jan inflation in Abu Dhabi

However, it dropped 0.6 per cent month on month in January 2016, as petroleum prices continued to slip.

By Staff Report

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Published: Mon 22 Feb 2016, 11:00 PM

Last updated: Wed 24 Feb 2016, 7:56 AM

Abu Dhabi: Inflation in rose 3.2 per cent year-on-year in January 2016 in Abu Dhabi.
However, it dropped 0.6 per cent month on month in January 2016, as petroleum prices continued to slip. The 'Housing, water, electricity, gas and other fuels' group accounted for the largest rise in the index during January 2016 compared with January 2015, contributing 81.8 per cent to the surge. This contribution resulted from an increase of 8.2 per cent in the prices of this group.
The 'Food and beverages' group contributing to the overall increase in the CPI over January 2016 compared with January 2015 by 3.9 per cent to the overall increase in the CPI as prices of this group increased by 1.1 per cent. The 'Restaurants and hotels', which contributed 5.7 per cent of the overall increase.
The average consumer prices decreased by 0.6 per cent month-on-month in January 2016.
haseeb@khaleejtimes.com