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Abu Dhabi consumer prices to fall 0.2 percent
(MENAFN) The consumer price index in Abu Dhabi fell down at 0.2 percent in Nov this year in a month-on-month comparison, reflecting the changes in petroleum prices.
However, in Oct, UAE petroleum prices increased 5.5 percent with effect from Nov this year, and the government removed the subsidies on petroleum products.
"With the gasoline prices declining consecutive months, I expect October and November annual inflation to be lower than four per cent year-on-year," said economist at National Bank of Abu Dhabi.
UAE households spend almost 11 percent of their budget on transportation and lower gasoline prices would influence real profit and purchasing power.
However, in Oct, UAE petroleum prices increased 5.5 percent with effect from Nov this year, and the government removed the subsidies on petroleum products.
"With the gasoline prices declining consecutive months, I expect October and November annual inflation to be lower than four per cent year-on-year," said economist at National Bank of Abu Dhabi.
UAE households spend almost 11 percent of their budget on transportation and lower gasoline prices would influence real profit and purchasing power.
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