UAE: Consumer prices taper for the 11th straight month in November
Consumer prices increased 0.12% month-on-month in November, contrasting October’s 0.16% decrease. November’s print was driven by higher prices for food and beverages, and transportation.
In year-on-year terms, consumer prices fell 1.4% in November, slightly softer than October’s 1.9% decline. Meanwhile, annual average consumer prices fell 1.8% year-on-year in November, down from October’s 1.6% decrease.
Going forward, price pressures are expected to pick up on the back of stronger economic activity and government measures to stabilize the flagging the real estate market. Moreover, lower interest rates should also provide some upward price pressure next year.