UAE - Mubasher: The UAE's Consumer Price Index (CPI) declined by 2.09% year-on-year (YoY) to about 105.97 points in December 2020 from 108.24 points in the same month of 2019.
In December 2020, the UAE's inflation rate has recorded its lowest levels since June 2016, according to the latest statistics by the Federal Competitiveness and Statistics Authority (FCSA).
Lower inflation is driven by a decline in five expenditure groups, including the housing, water, electricity, gas, and other fuels sector with 3.13%, the furnishings and household equipment sector with 2.11%, and the transport group with 7.25%.
On a monthly basis, the UAE's inflation went up by 0.09% in December 2020, compared to around 105.87 points in November 2020.
The rise in the monthly inflation is attributed to an increase in nine groups such as the clothing and footwear group with 1.05% and the tobacco group with 0.07%.
