Abu Dhabi's annual inflation rate slowed to 1.0 percent in September as housing and transport prices in the Gulf emirate edged lower, data showed on Saturday. Inflation had been edging higher over the past year in the emirate, which accounts for roughly 60 percent of the United Arab Emirates economy and invests billions of dollars in industry, tourism and infrastructure to diversify away from oil.
Consumer prices eased on an annual basis in September after a 1.6 percent rise in the previous month, data from the Statistics Centre Abu Dhabi (SCAD) showed. Price growth was at 0.4 percent month-on-month in September, up from a 0.1 percent monthly gain in August. Food prices, which account for more than 16 percent of the basket, rose 0.8 percent month-on-month in September.
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