Inflation is the top concern for people in the UAE. The majority (92%) believe that prices have increased over the past 12 months, and as a result, so has their spending. People have experienced price increases across most categories, with food & beverage topping the list, followed by transportation, and travel expenses. People believe that the key contributors to this inflation is linked to the increase in global oil prices and the pandemic.
The majority (71%) have taken measures to deal with inflation, with consumers most likely to buy only necessities, eat more home-cooked meals, and keep track of their spending habits.
Looking at the future, 6 in 10 are optimistic that prices will start stabilizing within the next 12 months, 1 in 3 believe it could take up to 3 years.