UAE: Inflation accelerates in June from May
Latest reading: Consumer prices in Dubai rose 5.7% on a year-on-year basis in June, following a 5.5% increase in the prior month. June’s reading was the strongest since August 2022.
Relative to the prior month’s data, there were higher price pressures for food and beverages (+7.6% on a year-on-year basis vs +6.7% in May) and transport (+18.1% vs +16.1% in May). In contrast, price pressures reduced for housing and utilities in June (+7.1% vs +7.3% in May).
Lastly, consumer prices in Dubai rose 0.41% in June in month-on-month terms, following a 0.50% increase in the previous month.