Consumer prices in the United Arab Emirates fell 2.59 percent year-on-year in August of 2020, following a 2.14 percent decrease in the previous month and marking the 20th straight month of deflation. Main downward pressure came from prices of recreation & culture (-31.73 percent vs -31.58 percent); housing & utilities (-3.01 percent vs -2.92 percent in July); transportation (-9.81 percent vs -7.39 percent) and furnishings (-2.11 percent vs -3.06 percent). In addition, prices slowed for restaurants & hotels (3.65 percent s 3.72 percent); clothing & footwear (9.15 percent vs 11.48 percent); tobacco (6.58 percent vs 6.74 percent) and food & beverages (4.43 percent vs 4.71 percent). On a monthly basis, consumer prices went down 0.14 percent, after declining 0.57 percent in the prior month.
Inflation Rate in the United Arab Emirates averaged 1.69 percent from 1990 until 2020, reaching an all time high of 12.30 percent in December of 2008 and a record low of -2.71 percent in May of 2020. This page provides the latest reported value for - United Arab Emirates Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Arab Emirates Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Inflation Rate in the United Arab Emirates is expected to be -1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in the United Arab Emirates to stand at 1.30 in 12 months time. In the long-term, the United Arab Emirates Inflation Rate is projected to trend around 1.40 percent in 2021 and 1.80 percent in 2022, according to our econometric models.