United Arab Emirates Inflation May 2021

United Arab Emirates

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%.

FocusEconomics Consensus Forecast participants expect consumer prices to grow 0.6% on average in 2021, which is down 0.2 percentage points from last month’s forecast. For 2022, they see inflation averaging 1.9%.

Author:, Junior Economist

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United Arab Emirates Inflation Chart

UAE Inflation May 2021 1

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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