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FINANCIAL NEWS
UAE records 40 percent increase in prices of key consumer items
23 Dec 2014
(MENAFN) People in the UAE appeared to have enjoyed a relatively stable year in terms of rents, which have not recorded sharp rises in contrast with previous years. But that was not the case of consumer item, which surged by more than 40 percent, Emirates 24/7 reported.
Meat, fish chicken, flour, sugar, rice, cooking oil, vegetable and fruit recorded such a remarkable price increase through 2014 in the absence of effective government control.
‘The prices of some products have even increased almost daily while other items recorded many rises in a period of less than six months,’ said a member of the Emirates Consumer Protection Association.
She said there is also a need for a law preventing the rise in the price of any consumer product more than once every year.
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