Abu Dhabi - Mubasher: The UAE’s inflation dropped to 1.62% in October, compared to 3.06% a month earlier, recording its second successive decline.
The GCC country’s inflation went down 0.48% year-on-year in October, from 2.1%, according to a report released by the Federal Competitiveness and Statistics Authority (FCSA).
Cost of Living Index rose to 110.4 points last month versus 108.6 in October 2017, the state-run statistics agency said.
The drop in inflation is attributed to a decrease in the prices of foodstuff, beverages, footwear, clothing, housing, water, electricity, gas, transportation and telecommunications.
In September, the UAE’s inflation levelled down to 3.09%, compared to 3.86% in the previous month.
The prices of food and beverages grew 3.2% in September, while the prices of tobacco and clothing & footwear segments surged to 86.8% and 21.89%, respectively.
