x Abu Dhabi, UAE Thursday 20 July 2017

Price freeze on hundreds of shopping basket goods across the UAE

The Ministry of the Economy has launched a major campaign to fix the price of hundreds of household goods available in UAE supermarkets - with price comparison.

The Ministry of the Economy has launched a major campaign to fix the price of hundreds of household goods available in supermarkets around the Emirates.
The Ministry of the Economy has launched a major campaign to fix the price of hundreds of household goods available in supermarkets around the Emirates.

The price of hundreds of groceries in supermarkets across the Emirates will be fixed as part of a new campaign launched today by The Ministry of the Economy.

In a bid to help contain inflation, retailers have agreed to maintain or reduce the prices of 400 basic foods and household goods across 70 stores for the next six months.

Expectations of rising food prices this year and next year prompted the ministry to take the action and approach the retailers.

"We have received indications from different organisations that there will be price increases in most commodities in 2011 to 2015 therefore the minister is keen that they have stability in prices," said Mohammed al Shehhi, undersecretary of the Ministry of Economy.

Lulu Hypermarket, Spinneys, Carrefour and the cooperative societies all signed up to the price scheme, forming 75 per cent of the market share of retail outlets in the UAE, according to the ministry.

Prices of food staples, such as rice, dried pasta, bottled water, flour, meats and tea will all be fixed until the end of the year, as well as household goods such as washing up liquid, shampoo and washing powder.

Popular consumer brands such as Coca-Cola and Pepsi will also see prices maintained at current levels.

A number of retailers have agreed to fix the prices of goods at the wholesale cost, while others will lower prices by up to 50 per cent. All the retailers have agreed to keep the prices at the same level, even if there are vast fluctuations in the price of commodities locally and globally.