United Arab Emirates: Inflation drops further in May
June 21, 2017
Consumer prices fell 0.02% in May, compounding April’s revised 0.39% drop (previously reported: -0.38% month-on-month). According to the Federal Competitiveness and Statistics Authority, May’s slight dip was driven by lower prices for housing, communication and recreation and culture. In contrast, the price of food and soft drinks rose in May compared to the prior month.
Inflation decreased from 2.2% in April to 1.9% in May, while annual average inflation remained at 1.8%.
Author: Oliver Reynolds, Economist