United Arab Emirates Inflation July 2018

United Arab Emirates

United Arab Emirates: Inflation accelerates in July

August 21, 2018

Consumer prices fell 0.05% in July from the previous month, contrasting the 0.37% month-on-month increase observed in June.

The July reading was mainly driven by a fall in the price of housing, water, electricity and gas, which accounts for over a third of the Consumer Price Index. Prices of clothing and footwear, and furniture and household goods also recorded declines. On the other hand, price increases were observed for food and beverages, tobacco, transportation and recreation and culture, which partially offset the declines recorded in other categories.

Meanwhile, inflation shot up from 3.3% in June to 3.8% in July. Annual average increased from 2.7% in June to 2.9% in July.

FocusEconomics Consensus Forecast participants expect inflation to average 3.7% in 2018, unchanged from last month’s forecast, and 2.8% in 2019.

Author:, Economist

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United Arab Emirates Inflation Chart

UAE Inflation July 2018

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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