Abu Dhabi’s CPI advances to 1.3 %

Consumer Price Index (CPI) in Abu Dhabi advanced 1.3 per cent to 122.5 points in the first seven months of 2012 compared with 121.0 points over the same period in 2011. This rise reflects the combined outcome of upward and downward changes in the prices of various goods and services that compose the consumer basket, according to Statistics Centre — Abu Dhabi (SCAD). The SCAD on Tuesday issued its periodic report on the CPI and the inflation rate in the Emirate of Abu Dhabi for the month of July and the first seven months 2012. The report analyses the CPI calculations for the periods under review, with the year 2007 fixed as the base year. It also details CPI results by welfare levels and types of households. The single largest contributor to the rise in consumer prices during the first seven months of 2012 was the “Food and non-alcoholic beverages” group, which accounted for 61.3 per cent of the rise in the index during the aforesaid period, due to increases in the prices of most of the subgroups included in this group, namely, the “Meat” subgroup, which surged by 10.2 per cent, “Fish and seafood” (up 8.4 per cent), “Coffee, tea and cocoa” (up 9.3 per cent), “Oils and fats” (up 6.6 per cent) and “Milk, cheese and eggs” (up 2.8 per cent). The next largest contributor to the overall y-o-y rise in consumer prices over the first seven months of 2012 was the “Restaurants and hotels” group, which accounted for 44.2 per cent of the increase in the CPI as the group’s prices climbed 16.1 per cent. The “Furnishings and household equipment and routine maintenance of houses” advanced 3.0 per cent y-o-y over the course of the first seven months of 2012, contributing 11.1 per cent of the overall rise in consumer prices between the two periods compared. Education contributed 12.5 per cent of the y-o-y rise in consumer prices during the first seven months of 2012. The “Transport” group contributed 6.3 per cent of the rise in consumer prices during the first seven months of 2012, compared with the same period of 2011, reflecting an overall change of 0.8 per cent as a result of a range of mixed changes in the subgroups falling under this expenditure group. Consumer prices in July 2012/2011 As SCAD’s report finds, average consumer prices increased by 1.4 per cent in July 2012 compared with July 2011, as the CPI advanced to 123.4 points in July 2012, up from 121.7 in July 2011, representing the combined outcome of a range of upward and downward changes in the consumer basket items. The impact of CPI change in first seven months of 2012/2011 by household welfare levels Detailed by welfare levels, the 1.3 y-o-y rise in consumer prices over the first seven months of 2012 pushed up prices for households of the “bottom” welfare quintile by 1.5 per cent for same period of comparison.