United Arab Emirates Inflation March 2020

United Arab Emirates

United Arab Emirates: Consumer prices decline in March for 15th straight month

May 1, 2020

Consumer prices fell 0.89% month-on-month in March, following February’s 0.26% decrease. March´s reading was primarily driven by notably lower prices for recreation and culture, and transportation, while an uptick in textiles, clothing and footwear, and food and beverage costs softened the decline.

In year-on-year terms, consumer prices dropped 1.6% in March, following the 1.3% decline recorded in February and thus marking the 15th straight month of declining prices. Meanwhile, annual average consumer prices dipped 1.7% year-on-year in March, matching the decrease recorded in the prior month.

Going forward, inflation is predicted to remain largely at bay amid 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 March 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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