UAE: Inflation hits over two-year high in August
Consumer prices increased 0.43% in August over the previous month, contrasting July’s 0.07% fall. August’s figure marked the highest reading since April. The higher reading was in large part due to higher food and beverages prices as well as a lower decrease in housing, water, electricity, and gas prices.
Inflation came in at 0.6% in August, swinging from July’s flat reading. August’s result was the highest inflation rate since November 2018. Meanwhile, the trend pointed up mildly, with the annual average variation of consumer prices coming in at minus 1.3% in August (July: -1.5%).