United Arab Emirates Inflation July 2021

United Arab Emirates

United Arab Emirates: Consumer prices record smallest drop in over two-years in July

September 23, 2021

Consumer prices dropped 0.07% from the previous month in July, swinging from the 0.19% rise logged in June. July's result marked the weakest reading since February. The lower reading was in large part due to lower price increases for food and beverages, and falling prices for housing, water, electricity and gas.

Consumer prices declined 0.02% in annual terms in July, following June’s 0.5% year-on-year decrease. July's reading was the smallest dip in consumer prices since December 2018. Meanwhile, the trend pointed up slightly, with the annual average variation of consumer prices coming in at minus 1.5% in July (June: -1.7%).

FocusEconomics Consensus Forecast participants expect consumer prices to grow 0.3% on average in 2021, which is unchanged from last month’s forecast. For 2022, they see inflation averaging 1.8%, which is also unchanged from last month’s forecast.


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United Arab Emirates Inflation Chart

UAE Inflation July 2021

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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