UAE: Consumer prices record smallest drop in over two-years in July

UAE Inflation July 2021

UAE: Consumer prices record smallest drop in over two-years in July

Consumer prices dropped 0.07% from the previous month in July, swinging from the 0.19% rise logged in June. July’s result marked the weakest reading since February. The lower reading was in large part due to lower price increases for food and beverages, and falling prices for housing, water, electricity and gas.

Consumer prices declined 0.02% in annual terms in July, following June’s 0.5% year-on-year decrease. July’s reading was the smallest dip in consumer prices since December 2018. Meanwhile, the trend pointed up slightly, with the annual average variation of consumer prices coming in at minus 1.5% in July (June: -1.7%).

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