United Arab Emirates Inflation

United Arab Emirates

United Arab Emirates: Inflation reaches highest rate in nearly six years

February 23, 2015

In January, consumer prices rose 0.68% over the previous month, which followed the 0.34% increase observed in December and marked a four-month high. According to the National Bureau of Statistics, the figure mainly reflected higher prices for housing as well as miscellaneous good and services.

Annual inflation rose from 3.1% in December to 3.7% in January, the highest level since March 2009. In addition, annual average inflation increased from 2.3% in December to 2.5% in January, marking the highest rate on record.

FocusEconomics Consensus Forecast participants expect inflation to be at 3.0% in 2015, which is up 0.4 percentage points over last month’s projection. For 2016, the panel sees inflation rising to 3.4%.

Author:, Senior Economist

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United Arab Emirates Inflation Chart

UAE Inflation January 2015

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Bureau of Statistics (NBS).

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