Consumer prices rise 2.7 per cent in Abu Dhabi

Rises in prices were driven mainly by transport, which has increased by 10 per cent

UAE residents surveyed put about 6 per cent of their earnings into retirement savings.Silvia Razgova / The National

The Abu Dhabi inflation rate for the first quarter of 2018 is 3.9 per cent and consumer prices have risen 2.7 per cent on last year.

A consumer price index report from the Statistics Centre - Abu Dhabi issued today found that the CPI had however dropped 1 per cent in March from the previous month, Wam reported.

Consumer inflation was driven mainly by transport, which increased by 10 per cent, contributing 35.7 per cent of the overall increase in the CPI. Food and beverages also contributed significantly, accounting for 15.7 per cent of the overall increase compared with the same period of 2017, reflecting a 5.3 percent surge in prices.

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The report said that the impact of inflation varies with a household’s welfare level, and there was an increase of 3.9 per cent for households of the bottom welfare level, 3.6 per cent for those in the middle and 4.1 per cent for those at the top.

Prices rose 4.2 per cent for citizen households, 3.6 per cent for non-citizens and 4.4 per cent for shared households.

The CPI is expected to increase by 2.7 per cent for the second quarter of 2018 when compared with the same period in 2017.