UAE: Dubai inflation recedes in December from November’s three-month high
Latest reading: Dubai inflation eased to 2.9% in December, slightly down from November’s three-month high of 3.0%. Food prices grew at the weakest pace in four months, driving the slowdown. That said, housing and utilities prices soared at the second-fastest speed on record, stoked by a booming population.
The print meant that prices rose 3.3% over the year as a whole in Dubai, the strongest increase since 2015 excluding the post-pandemic spike seen in 2022.
Finally, consumer prices in Dubai rose 0.45% over the previous month in December, picking up from the 0.44% increase seen in November. December’s figure was the highest reading since August.