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UAE Inflation Edges Up

UAE Inflation Edges Up UAE Inflation Edges Up

The inflation rate in consumer prices in the UAE during the first five months of 2017 stood at 2.2%, according to Statistics Center, Abu Dhabi, a report said. The relative change rate in consumer prices during May hit 2% as compared with the same month last year, Emirates news agency WAM reported, citing a SCAD statement. SCAD attributed the increase to a 3.5% rise in prices of housing, water, electricity, gas and other types of fuels, which accounted for 55.3% of the total price hike during the first five months of the year comparatively with the same period in 2016. The hike in transportation prices claimed 33.1% of the total rise during the first five months of 2017 as compared to the same period in 2016. Prices in the recreation and culture category dropped by 9% during the first five months comparatively with the same period in 2016, contributing by 19.3% to reducing the inflation rise.

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