Abu Dhabi's inflation rate in CPI for the first two months of 2014 at 2.3%: SACD

Abu Dhabi (WAM): Abu Dhabi's Consumer Price Index (CPI) increased by 2.6% in February 2014, compared with the same period of 2013, as shown by the increase in the CPI from 123.2 points in February 2013 to 126.3 points in February 2014,Abu Dhabi Statistics Centre (SCAD) monthly data showed. . Abu Dhabi's inflation rate in consumer prices for the first two months of 2014 was 2.3%, compared with the same period of 2013, as shown by the increase in the Consumer Price Index (CPI) to 126.2 points during the first two months of 2014, up from 123.3 points during the same period of 2013, the report said. This report provides an analysis of the results of the CPI for the month of February 2014 with the base year 2007. In addition, the report provides the results of the CPI by household welfare levels and by household type. The main findings of this analysis are outlined below: An overall rise of 2.3% in consumer prices during the first two months of 2014 compared with the same period in 2013, has led to an increase of 2.1% in consumer prices for households of the bottom welfare quintile over this period of comparison. As for the other welfare levels, consumer prices grew by 2.4% for the middle and 2.2% for the top welfare quintile. The rise in consumer prices for the first two months of 2014 compared with the same period in 2013, pushed up consumer prices for citizen by 2.4% while the non-citizen and share households increased by 2.3%. The rise in consumer prices for the first two months 2014 compared with the same period in 2013, pushed up consumer prices by region for Abu Dhabi region by 2.1%, Al Ain region and Al Gharbia by 2.3% "Food and non-alcoholic beverages" group accounted for the largest rise in the index during the first two months 2014 compared with the same period of 2013, contributing 29.7% to the change. The rises in the "Food and non-alcoholic beverages" group came as a result of increases in the prices of most subgroups included in this group. The prices of the "Fish and seafood" subgroups rose by 21.5%, "Vegetables" by 11.4%, "Coffee, tea and cocoa" by 8.4% and "Food products " by 5.6%. The second highest contributor to the overall increase in the CPI over the first two months of 2014 was the "Housing, water, electricity, gas and other fuels" group with a 25.0% contribution to the rise in consumer prices for the periods compared, while its prices increased by 1.5%. The "Clothing and footwear" group, contributed for 13.6% of the increase to CPI over the comparison period. This contribution resulted from an increase of 4.0% in the prices of this group The prices of "Restaurants and hotels" rose by 5.1% during the first two months of 2014 compared with the same period of 2013. This group contributed 9.4% of the total increase achieved by all groups. The "Furnishings, household equipment" group accounted for 8.9% of the overall increase occurring during the first two months of 2014 compared with the same period of 2013. This contribution resulted from an increase of 4.2% in the prices of this groups. Among the main groups that slowed down the rise in consumer prices during the first two months of 2014 compared with the same period of 2013, was the "Communication" group, which contributed -0.6%.The prices of this group decreased by 0.2%. CPI of February 2014: Comparing the CPI of February 2014 with the CPI of February 2013 The average consumer prices increased by 2.6% in February 2014 compared with February 2013, with the CPI at 126.3 points in February 2014, up from 123.2 points in February 2013. This increase in prices is due to the net movement (increases and decreases) of consumer prices during these months. The most significant groups, which experienced increases in prices during February 2014 compared with February 2013, were the groups of "Restaurants and hotels" by 6.6%, "Miscellaneous goods and services" by 4.5% ,"Clothing and footwear" by 4.2%, and "Food and non-alcoholic beverages", "which increased by 4.1%, Meanwhile the prices for the "Communication" group decreased by 0.2% over the period. The average consumer prices increased by 0.2% in February 2014 compared with January 2014. This overall increase in prices between the two months reflects the net movement (increases and decreases) of consumer prices during the periods compared. The most significant groups, which experienced increases in prices during February 2014 compared with January 2014, were the "Miscellaneous goods and services" which increased by 4.0%. CPI by household welfare level: Comparing the average CPI by household welfare level for the first two months of 2014 with the same period of 2013 The rise of 2.3% in consumer prices during the first two months of 2014 compared with the same period in 2013, resulted in an increase of 2.1% in consumer prices for households of the bottom welfare quintile for the same period of comparison. The corresponding rise for other welfare levels was 2.4% for the middle quintile and 2.2% for the top quintile. Comparing the average CPI by household welfare level for February 2014 with February 2013: The rise in consumer prices in February 2014 by 2.6% compared with February 2013 caused a rise in consumer prices for households in the bottom welfare quintile of 1.9%, while prices increased for households in the middle quintile by 2.7%, and the top welfare quintile by 2.6%. Comparing the average CPI by household welfare level for February 2014 with January 2014: In February 2014, consumer prices increased by 0.2% compared with January 2014. This caused increases of 0.2% in consumer prices for households in the middle quintile and 0.4% in the top welfare quintile. CPI by household type: Comparing the average CPI by household type for the first two months of 2014 with the same period of 2013 The 2.3% rise in consumer prices for the first two months of 2014 compared with the same period of 2013, pushed up consumer prices for citizen households by 2.4%, while non-citizen households and share households increased by 2.3%. Comparing the average CPI by household type for the month of February 2014 with February 2013: The 2.6% rise in consumer prices in February 2014 compared with February 2013 caused a 2.8% rise in consumer prices for citizen and 2.4% for non-citizen households during the same period. Comparing the average CPI by household type for the month of February 2014 with January 2014: The 0.2% increase in consumer prices in February 2014 compared with January 2014 caused a 0.4% increase in consumer prices for citizen households and 0.1% for non-citizen households during the same period. CPI by Region: The 0.2% increase in the CPI in February 2014 compared with January 2014 resulted in an increase of 0.2% in the CPI for Abu Dhabi, Al Ain and Al Gharbia region. The increase in the CPI in Abu Dhabi Region contributed 66% of the total increase achieved during the two months, Al-Ain Region contributed 26%.while Al Gharbia region contributed 8% of the total increase achieved during the period. Consumer Price Index - Abu Dhabi Region: The inflation rate in the Abu Dhabi region was 2.1% in the first two months of 2014, compared with the same period of 2013. The inflation rate in the Abu Dhabi region increased by 2.5% in February 2014, compared with the same month in 2013. The CPI increased by 0.2% in February 2014, compared with January 2014. The major groups that increased in February 2014 compared with January 2014 were "Recreation and culture" by 3.8%, "Miscellaneous goods and services" by 3.2% and "Restaurants and hotels" with an increase of 2.7%. Consumer Price Index- Al Ain Region The inflation rate in the Al Ain region was 2.3% in the first two months of 2014, compared with the same period of 2013. The inflation rate in the Al Ain region increased by 2.6% in February 2014, compared with the same month in 2013. The CPI increased by 0.2% in February 2014, compared with January 2014.The major groups that increased in February 2014 compared with January 2014 were ""Restaurants and hotels" by 1.6%, "Food and non-alcoholic beverages" by 0.5%, and "Miscellaneous goods and services" with an increase of 0.4%. Consumer Price Index, Al Gharbia Region: The inflation rate in the Al Gharbia region was 1.6% in the first two months of 2014, compared with the same period of 2013. The inflation rate in the Al Gharbia region increased by 2.0% in February 2014, compared with the same month in 2013. The CPI increased by 0.3% in February 2014, compared with January 2014. The major groups that increased in February 2014 compared with January 2014 were "Miscellaneous goods and services" group by 3.1%, "Food and non-alcoholic beverages" by 0.3%, and the "Furnishings, household equipment and routine household maintenance" with an increase of 0.2%. – Emirates News Agency, WAM