UAE: Consumer prices fall at softer pace in July

UAE Inflation July 2020

UAE: Consumer prices fall at softer pace in July

Consumer prices dropped 0.57% in July in month-on-month terms, swinging from June’s 0.33% increase. July’s reading marks the sharpest decrease in the past four months.

Consumer prices fell 2.1% in July in annual terms, a softer drop than June’s 2.4%. The annual average variation of consumer prices remained at June’s minus 1.9% in July.

Looking ahead, consumer prices are projected to continue decreasing this year, as household spending halts due to a rising unemployment rate. Moreover, low oil and gas prices will further weigh on price pressures.

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