United Arab Emirates: Consumer prices fall at a softer pace in March
June 25, 2021
Consumer prices increased 0.06% in March over the previous month, swinging from the 0.41% drop recorded in February. The reading chiefly reflected higher prices for transport and for recreation and culture. The overall increase was capped by lower prices for food and beverages.
Consumer prices declined 1.1% on an annual basis in March, slowing down from February’s 2.0% fall. March’s result marked the smallest dip in consumer prices since May 2019. Consequently, the trend pointed up, with annual average variation of consumer prices coming in at minus 2.1% in March, up from February’s minus 2.2%.
Author: Marta Casanovas , Junior Economist