The rising cost of transport and food and drink in Abu Dhabi pushed up inflation in the third quarter as the cost of living in the capital again increased.
According to new data from the Statistics Centre Abu Dhabi (Scad), the Consumer Price Index (CPI) – which measures day to day living costs – rose 2.3 per cent in the three months to the end of September compared with the second quarter of this year.
Transport costs increased 5.9 per cent over the period – reflecting the government’s decision to change the method of setting fuel prices at the beginning of August, effectively reducing subsidies.
That led to a 24 per cent spike in the cost of 95 octane unleaded petrol in August before petrol prices were cut again in September and October.
The cost of food and beverages also increased 4.6 per cent over the three-month period, according to Scad, as retailers appear to have passed on the growing costs of moving comestibles on to consumers.
These figures are the latest indication that the rise in the cost of living in Abu Dhabi is accelerating. Abu Dhabi was rated the world’s 33rd most expensive place to live in an annual survey this year, rising 35 places up the ranks.
Consumer prices rose 1 per cent in September compared with the previous month with costs for clothing and footwear up 8.3 per cent and food and beverages again up 1.5 per cent.
This month data from the National Bureau of Statistics showed that year-on-year inflation across the UAE decreased in September from a six-year high after two major cuts in fuel prices lowered transport costs in September and October.
The CPI is used by the government to set economic policies and is used for adjusting payments such as rents and wages.
The statistics centre said that the data was collected using a basket of 334 goods and services which were recorded by a research team tasked with driving around the emirate to record them.
lbarnard@thenational.ae
Follow The National's Business section on Twitter
