x Abu Dhabi, UAEFriday 28 July 2017

Is the rising price of consumer goods still putting a dent in your wallet?

The Ministry of the Economy has held talks with UAE retail giants calling for a cut in the price of consumer goods.

The Ministry of the Economy has held talks with UAE retail giants, including Carrefour, Lulu, and Manama, calling for a cut in the price of consumer goods. The move comes after consumer prices began to skyrocket across the UAE at the beginning of the summer against a backdrop of rising inflation. In recent weeks, wholesale costs of foodstuffs and raw materials have fallen, but the savings have not transferred to store shelves. Retailers say current stock had been purchased earlier at high prices, but as new shipments come in, prices will go down. Is the high price of consumer goods still putting a dent in your wallet? What else should be done to help alleviate this problem?