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Daniel Richards - MENA Economist
Published Date: 21 January 2021
Dubai's CPI declined -0.4% m/m in December on the back of monthly declines in food, housing, and recreation & culture costs. Housing & utilities prices fell -1.4% m/m in December, the largest drop last year. On an annual basis, headline CPI declined -4.3% y/y, down from -3.7% in November and also the lowest reading in 2020. We expect consumer inflation to rise modestly this year, off a low annual base and as activity normalised and demand recovers.
Source: Bloomberg, Emirates NBD Research
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