Consumer prices in the United Arab Emirates fell at a record 2.71 percent year-on-year in May of 2020, following a 1.86 percent fall in April and marking the 17th straight month of deflation. It is the biggest decline in consumer prices ever due to the coronavirus lockdown. The biggest downward contribution came from prices of housing and utilities (-4.1 percent, the same as in April) and transportation (-77.9 percent vs -11.7 percent) while food inflation accelerated (6.2 percent vs 5.2 percent). On a monthly basis consumer prices edged up 0.1 percent, after decreasing 0.1 percent in the previous month.
Inflation Rate in the United Arab Emirates averaged 1.77 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 July of 2020.
Inflation Rate in the United Arab Emirates is expected to be -1.30 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 1.60 percent in 2021 and 1.80 percent in 2022, according to our econometric models.