At a supermarket in Dubai. EXPAT MEDIA

The UAE Ministry of Economy has announced a strict prohibition on price increases for nine essential food items, set to take effect on January 2, 2025. The policy aims to safeguard consumers from inflationary pressures while ensuring market stability. The newly regulated items include cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat. Retailers and suppliers cannot implement price hikes without prior approval from the Ministry of Economy. The ministry further clarified that any price increase would require a minimum six-month gap between consecutive hikes. “This policy underscores the UAE’s commitment to fostering a safe and stable consumer environment,” said Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, during a press briefing on December 24. “It aligns with the nation’s vision to enhance consumer protection in accordance with global best practices.”

Regulatory details

The framework comprises three ministerial decrees that regulate the pricing of essential goods, focusing on transparency and market fairness. A key aspect of the policy mandates retail stores to display unit prices prominently, empowering consumers to make informed choices. Under the new system, a supervisory committee will monitor price fluctuations and review applications for price changes. Violations can be reported by consumers, suppliers, or retailers, and the Supreme Committee for Consumer Protection holds authority to investigate these complaints. The ministry highlighted that these regulations are designed to mitigate the impact of sudden disruptions caused by external economic changes. They aim to maintain a balance between supply and demand, ensuring uninterrupted access to essential goods at fair prices. The decision also seeks to enhance public awareness. “Consumers have the power to report unfair pricing directly,” Al Saleh said. The ministry’s hotline and digital platforms will act as conduits for addressing grievances. ICA/Expat Media
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