Abu Dhabi Inflation up to 3.6% Y-o-Y in H1 of 2018, expected to surge by 3.3% in Q3:SCAD

ABU DHABI, 22nd July, 2018 (WAM) -- The Consumer Price Index (CPI) in the Emirate of Abu Dhabi is like to increase by 3.3 percent year-on-year in the third quarter of 2018, according to Statistical Center - Abu Dhabi (SCAD) estimates released on Sunday. ''Consumer inflation for the first six months of 2018 rose to 3.6 percent compared with the same period of 2017, driven by the increase in the CPI to 111.9 percent, up from 108.0 percent during the first half of 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. In addition, the CPI nudged up 0.5 percent in June 2018 compared with the previous month,'' said the SCAD monthly report on the CPI and the inflation rate in the Emirate for June and the first six months of 2018, with 2014 fixed as the base year. ''Abu Dhabi region contributed 43.4 percent of the total 3.6 percent y-oy increase in consumer prices observed during first six months of 2018 as price levels in the region advanced by 2.7 percent, while Al-Ain and Al Dhafra regions accounted for 49.1 percent and 7.5 percent, respectively, of the total consumer inflation recorded during the first half of 2018,'' the report noted. It indicated that consumer inflation during the first six months of 2018 was driven mainly by the transport group, which increased by 9.4 percent, contributing 36.4 percent of the overall increase in the CPI. Another key contributor to the rise in consumer prices during the period under review was the ‘Clothing and footwear’ group, which accounted for 19.6 percent of the overall increase in the CPI during the first six months of 2018 compared with the same period of 2017, reflecting a 14.1 percent surge in the group’s prices. ''The ‘Miscellaneous goods and services’ group contributed 14.9 percent of the overall increase in the CPI for the first six months of 2018 compared with the same period of the previous year, as the prices of the group soared by 7.6 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.