United Arab Emirates: Inflation picks up in January after a lull in December
February 26, 2017
In January consumer prices rose 0.70% compared to the previous month, contrasting the 0.29% decline seen in December. According to the National Bureau of Statistics, January’s increase was driven by higher prices for housing, transport and recreation and culture. In contrast, prices for textiles, clothing and footwear, and restaurants and hotels saw significant price declines in January compared to the prior month.
Inflation rose from 1.2% in December to 2.3% in January, while annual average inflation was 1.6% in January, mirroring December’s figure (previously reported: +1.8%).
Author: Oliver Reynolds, Economist