United Arab Emirates Inflation February 2019

United Arab Emirates

United Arab Emirates: Consumer prices continue to slide further in February

April 9, 2019

Consumer prices fell 0.30% month-on-month in February, coming in below the 0.12% decline recorded in January. The February print came on the back of lower prices for food and beverages; restaurants and hotels; recreation and culture; and communications.

In year-on-year terms, consumer prices fell 2.5% in February, ticking down from January’s 2.4% decline. This was still largely due to a steep base effect from 2018, as the government had introduced a 5% Value Added Tax in January of that year, which was progressively absorbed by the economy over the following months as firms reduced their selling prices.

FocusEconomics Consensus Forecast participants expect inflation to average 1.7% in 2019, down 0.3 percentage points from last month’s forecast, and 2.4% in 2020.

Author:, Economist

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United Arab Emirates Inflation Chart

UAE Inflation February 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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