Picture for illustrative purposes only. EXPAT MEDIA

The UAE has implemented a ban on price increases for nine essential food items, starting on Thursday (January 2), to protect residents from inflation and stabilize the market. The Ministry of Economy outlined the policy, which targets cooking oil, eggs, dairy products, rice, sugar, poultry, legumes, bread, and wheat. Retailers and suppliers must seek prior approval from the ministry for any price adjustments. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, stated, “This policy underscores the UAE’s commitment to fostering a safe and stable consumer environment. It aligns with the nation’s vision to enhance consumer protection in accordance with global best practices.” The policy’s framework, consisting of three ministerial decrees, emphasizes transparency and fairness. Retailers are now required to display unit prices prominently, enabling consumers to make informed choices. A supervisory committee will monitor price fluctuations and evaluate applications for price changes. Violators can be reported by consumers, suppliers, or retailers, with the Supreme Committee for Consumer Protection authorized to investigate complaints. This regulation ensures that no price hike occurs without a minimum six-month interval. By implementing this measure, the UAE government aims to provide a stable and predictable market for residents while discouraging unwarranted price manipulation. ICA/Expat Media
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