United Arab Emirates Inflation December 2019

United Arab Emirates

United Arab Emirates: Consumer prices end year with 12th straight decline

February 4, 2020

Consumer prices fell 0.23% month-on-month in December, contrasting November’s 0.13% increase. December’s result was primarily driven by lower prices for tobacco and transportation.

In year-on-year terms, consumer prices dropped 1.4% in December, thus matching the decline from November. Meanwhile, annual average consumer prices dipped 1.9% year-on-year in December, marginally down from November’s 1.8% decrease.

Going forward, inflation is predicted to return this year on the back of stronger economic activity and lower interest rates, although relatively low global oil prices are set to temper the rise.

FocusEconomics Consensus Forecast participants expect inflation to average 0.8% in 2020, which is down 0.4 percentage points from last month’s forecast. For 2021, they see inflation averaging 1.8%.

Author:, Economist

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United Arab Emirates Inflation Chart

UAE Inflation December 2019 0

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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