The UAE is ensuring that major retailers are implementing the new pricing policy for nine basic consumer items and have not hiked the prices unjustifiably, said Abdullah bin Touq Al Marri, UAE’s minister of economy. Al Marri toured Union Coop, Lulu and five other major outlets to ensure that prices of nine basic consumer items – cooking oil, eggs, dairy products, rice, sugar, poultry, legumes, bread and wheat – are displayed clearly in line with the guidelines “During the tours, we focused on ensuring the extent to which sales outlets are committed to implementing the new pricing policy for the nine basic consumer goods, ensuring that they are not raised unjustifiably, and displaying product prices clearly and legibly to consumers,” he said. On December 2024, the Ministry of Economy said retailers cannot increase prices of nine basic consumer goods without prior approval, in order to protect consumers and enhance competition. It added that there would be a minimum of six months between two consecutive increases in prices of basic commodities from 2025. The new policy asked retailers to clearly display prices of commodities. The holy month of Ramadan is expected to begin in the UAE on March 1, 2025. Consumer spending in the UAE […]