United Arab Emirates Inflation August 2019

United Arab Emirates

United Arab Emirates: Consumer prices continue to fall in August

October 23, 2019

Consumer prices increased 0.33% month-on-month in August, contrasting July’s 0.79% fall. August’s print was driven by higher prices for transportation, and food and beverages.

In year-on-year terms, consumer prices fell 2.0% in August, softer than July’s 2.2% decline. Meanwhile, annual average consumer prices fell 0.9% year-on-year in August, down from July’s 0.4% decrease.

Looking at 2020, inflationary pressures should return on the back of government measures to stabilize the flagging the real estate market and stronger economic growth. Moreover, the Central Bank’s recent rate cuts should also provide some upward price pressure next year.

FocusEconomics Consensus Forecast participants expect average year-on-year prices to rise 1.3% in 2020, which is unchanged from last month’s forecast, and 1.7% in 2021.

Author:, Economist

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United Arab Emirates Inflation Chart

UAE Inflation August 2019

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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