United Arab Emirates: Inflation ticks up in June
July 31, 2017
Consumer prices rose 0.56% in June on a month-on-month basis, contrasting May’s 0.02% fall. According to the Federal Competitiveness and Statistics Authority, June’s uptick was mainly driven by higher prices for food and beverages and transportation, linked to the Eid Al Fitr holiday. In contrast, the price of housing, water, electricity and gas dipped compared to May, largely due to cheaper rents. Inflation ticked up from 1.9% in May to 2.0% in June.FocusEconomics Consensus Forecast participants expect inflation to average 2.6% in 2017 and 3.3% in 2018.
Author: Oliver Reynolds, Economist