Deflation persists for eighth consecutive month at 2% Y-o-Y in August
UAE’s Statistics Bureau released CPI data on Tuesday, which showed that deflation persisted in the country for the eighth consecutive month at 2% Y-o-Y in August, from 2.2% Y-o-Y a month earlier. The deflation continues to be mainly driven by a 4.7% Y-o-Y decline in housing and utility prices, a 1.6 Y-o-Y decrease in food prices and a 4.8% Y-o-Y fall in transportation prices. On a monthly basis, the index rose by 0.3%.
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