United Arab Emirates Inflation February 2020

United Arab Emirates

United Arab Emirates: Consumer prices decline in February for 14th straight month

April 14, 2020

Consumer prices fell 0.26% month-on-month in February, following January’s 0.09% decrease. February´s reading was primarily driven by markedly lower prices for recreation and culture, and transportation, while an uptick in textiles, clothing and footwear costs softened the decline.

In year-on-year terms, consumer prices dropped 1.3% in February, matching the decline recorded in January and thus marking the 14th straight month of declining prices. Meanwhile, annual average consumer prices dipped 1.7% year-on-year in February, marginally up from January’s 1.8% decrease.

Going forward, inflation is predicted to return this year on a supportive base effect, although relatively low global oil prices are set to moderate the rise.

FocusEconomics Consensus Forecast participants expect inflation to average 0.4% in 2020, which is down 0.3 percentage points from last month’s forecast. For 2021, they see inflation averaging 2.0%.

Author:, Economist

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United Arab Emirates Inflation Chart

UAE Inflation February 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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