United Arab Emirates: Fall in consumer prices continues to moderate in May
July 2, 2021
Consumer prices increased 0.25% in May over the previous month, moderating from the 0.44% rise logged in April. The reading largely reflected higher prices for transportation, food and beverages, as well as for recreation and culture.
Consumer prices declined 0.4% on an annual basis in May, easing from April’s 0.5% fall. May’s result marked the smallest dip in consumer prices since January 2019, although it was partly flattered by a favorable base effect. Consequently, the trend pointed up, with annual average variation of consumer prices coming in at minus 1.8% in May, up from April’s minus 2.0%.
Author: Marta Casanovas , Junior Economist