UAE: Consumer prices decrease at softer pace in September

UAE Inflation September 2020

UAE: Consumer prices decrease at softer pace in September

Consumer prices dropped 0.50% in month-on-month terms in September, worsening from August’s 0.14% decline. The reading reflected a sharper decrease in prices for textiles, clothing and footwear, as well as for miscellaneous goods and services.

Meanwhile, consumer prices dropped 2.4% in annual terms in September, up from August’s 2.6% fall. The annual average variation of consumer prices remained at minus 1.9% in September for the fourth month running.

Consumer price pressures are expected to continue decreasing for the remainder of this year due to an elevated unemployment rate and low oil and gas prices. Next year, inflation is expected to make a timid comeback, on the back of recovering economic activity and stronger aggregate demand.

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