Inflation in United Arab Emirates
United Arab Emirates - Inflation
Consumer prices record joint-smallest fall since March 2020 in January
Consumer prices increased 0.15% in January over the previous month, accelerating from the 0.09% rise seen in December. January’s result marked the sharpest increase in prices since June. The reading chiefly reflected higher prices for transportation. However, the overall increase was capped by lower prices for housing, water, electricity and gas, as well as for food and beverages.
Meanwhile, consumer prices declined 1.9% on an annual basis in January, a more moderate drop than December’s 2.1% fall. January’s reading marked the joint-smallest dip in consumer prices since March 2020. Meanwhile, the trend remained stable, with the annual average variation of consumer prices coming in at December’s 2.1% in January.
Consumer price pressures will likely have remained subdued in the first quarter of the year. Looking ahead, the drop in price pressures should further moderate in H1 as economic activity recovers as the Covid-19 vaccine is gradually rolled out. Later in the year, inflation should return on the economy strengthening and higher prices, on average, for oil.
FocusEconomics Consensus Forecast participants expect consumer prices to grow 0.8% on average in 2021, which is unchanged from last month’s forecast. For 2022, they see inflation averaging 1.9%.
United Arab Emirates - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 4.1 | 1.6 | 2.0 | 3.1 | -1.9 |
United Arab Emirates Inflation Chart
Source: National Bureau of Statistics.
United Arab Emirates Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 3.67 | 0.0 % | Dec 31 |
| Stock Market | 0.1 | 0.75 % | Jan 07 |
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Economic News
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United Arab Emirates: Consumer prices record joint-smallest fall since March 2020 in January
April 6, 2021
Consumer prices increased 0.15% in January over the previous month, accelerating from the 0.09% rise seen in December.
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United Arab Emirates: PMI increases to 20-month high in March
April 5, 2021
The IHS Markit Purchasing Managers’ Index (PMI) increased to its highest value since July 2019 in March, clocking in at 52.6, up from February’s 50.6.
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United Arab Emirates: PMI falls to three-month low in February, but remains in expansionary territory
March 3, 2021
The IHS Markit Purchasing Managers’ Index (PMI) ticked down to a three-month low in February, clocking in at 50.6 and down from January’s 16-month high of 51.2.
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United Arab Emirates: PMI remains at 16-month high in January
February 3, 2021
The IHS Markit Purchasing Managers’ Index (PMI) was stable at 51.2 in January, matching December 2020’s print.
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United Arab Emirates: Consumer prices record joint-smallest fall since April in December
February 3, 2021
Consumer prices increased 0.09% in December over the previous month, swinging from the 0.11% fall seen in November.
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