United Arab Emirates Inflation January 2020

United Arab Emirates

United Arab Emirates: Consumer prices continue to decline in January

March 3, 2020

Consumer prices fell 0.09% month-on-month in January, following December’s 0.23% decrease. January´s reading was primarily driven by lower prices for textiles, clothing and footwear, recreation and culture, and utilities, while rising costs of food and beverages softened the decline.

In year-on-year terms, consumer prices dropped 1.3% in January, softening marginally from December’s 1.4% fall but nonetheless marking the 13th straight month of declining prices. Meanwhile, annual average consumer prices dipped 1.8% year-on-year in January, marginally up from December’s 1.9% decrease.

Going forward, inflation is predicted to return this year on the back of strengthening economic activity and an uptick in private consumption, although relatively low global oil prices are set to moderate the rise.

FocusEconomics Consensus Forecast participants expect inflation to average 0.8% in 2020, which is unchanged from last month’s forecast. For 2021, they see inflation averaging 1.9%.

Author:, Economist

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United Arab Emirates Inflation Chart

UAE Inflation January 20 20

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Federal Competitiveness and Statistics Authority (FCSA).

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