UAE: Dubai inflation increases in May
Latest reading: Inflation in Dubai increased to 2.4% in May from April’s 2.3%, but remained at one of the lowest levels since early 2022. Transport prices slumped at an even sharper rate, weighed on by the recent drop in the cost of petroleum on global markets. Moreover, housing and utilities costs continued to cool after rising sharply in past months on a booming population.
Annual average inflation ticked down to 2.9% in May (April: 3.0%).
Finally, consumer prices in Dubai fell 0.18% from the previous month in May, contrasting April’s 0.29% rise. May’s result marked the weakest reading since May 2024.