United Arab Emirates: Inflation rises sharply in December

Consumer prices rose 0.69% in December from the prior month, contrasting November’s 0.03% decline. According to the Federal Competitiveness and Statistics Authority, the increase was driven by higher prices for recreation and culture, and transportation. Inflation picked up from 1.7% in November to 2.7% in December, while annual average inflation came in at 2.0% in December, up from 1.8% in November.

FocusEconomics Consensus Forecast participants expect inflation to average 3.4% in 2018 and 2.9% in 2019.