United Arab Emirates PMI

United Arab Emirates

United Arab Emirates: Upward spiral in inflation continues in October

November 25, 2014

In October, consumer prices increased 0.11% over the previous month, which followed September’s 0.93% increase and represented the slowest monthly expansion in three months. According to the National Bureau of Statistics, the figure mainly reflected higher prices for food and soft drinks, housing as well as for restaurants and hotels.

Annual inflation increased from September’s 2.9% to 3.1% in October, which marked the highest print since March 2009. Likewise, annual average inflation inched up from 1.9% in September to 2.1% in October.

The National Bureau of Statistics expects inflation to reach 1.1% in 2014, before accelerating to 1.4% in 2015. FocusEconomics Consensus Forecast participants expect inflation to be at 2.5% in 2014, which is up 0.9 percentage points over last month’s projection. For 2015, the panel sees inflation rising to 3.0%, which is up 1.2 percentage points from last month’s estimate.

Author: Ricard Torné, Lead Economist

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United Arab Emirates PMI Chart

UAE Inflation October 2014 0

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

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