Macroeconomic Forecast UAE

Latest inflation data from the National Bureau of Statistics shows inflationary pressures in the UAE remaining muted through the first five months of the year. Inflation came in at 0.8% y-o-y in May, unchanged from April. In month-on-month terms, prices rose 0.2% compared to April. Upwards prices pressures were most noticeably seen in an increase in food inflation, which came in at 6.8% y-o-y, while housing prices remained firmly in deflationary territory, contracting 3.4% against the same month a year earlier. We project consumer price inflation averaging 2.3% in 2012.

To read the full article, please choose one of the following options: