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UAE inflation up 1.6% in May

UAE inflation up 1.6% in May
Abu Dhabi’s inflation grew 2.73% y-o-y (Photo Credit: Arabianeye-Reuters)

Abu Dhabi-Mubasher: The UAE’s inflation rose by 1.62% year-on-year (y-o-y) in May 2016, according to a report published by the Federal Competitiveness and Statistics Authority.

The consumer price index (CPI) reached 127.3 points in May 2016, compared to 125.27 points in the prior-year period.

On a month-on-month basis, the nation’s inflation fell 0.25% in May 2016.

Abu Dhabi’s inflation grew 2.73% y-o-y, followed by Umm al-Quwain, Dubai, Fujairah and at 2.16%, 1.48%, 1.07% and 0.98%, respectively.

The education group saw the highest rise in prices at 3.8% y-o-y, followed by the clothing and footwear group at 3.5%.