UAE: Consumer prices fall for 16th consecutive month in April
Consumer prices edged down 0.09% in April over the previous month, a milder drop than March’s 0.89% decline. April’s reading was driven primarily by falling transport costs in the wake of lower global oil prices.
Consumer prices fell 1.9% year-on-year in April, a steeper drop than March’s 1.6% fall and represented the largest decrease in consumer prices since October 2019. Meanwhile, the trend remained the same as in the previous month, with the annual average variation of consumer prices coming in at minus 1.7 in April.
Going forward, inflationary pressures are predicted to remain largely at bay amid persistently low global oil prices and shrinking private consumption.