Dubai: The Ministry of Economy recently released a statement saying that the prices of 500 products will be frozen in the UAE starting this year.
Dr Hashim Al Nuaimi, director of the Consumer Protection Department at the ministry, said that prices of everyday household consumables such as rice, oil, meat and flour
will remain fixed through the next year.
He told Gulf News that customers can check which products are on the new price freeze list by asking staff at participating outlets. The items can also be identified by a label indicating that their prices will remain fixed in 2015. Some lists and labels are already available while a complete list is expected at the start of the new year.
Easy availability
He added that 500 outlets including branches of major supermarket chains such as Lulu and Union Co-operative Society have agreed to the price freeze.
This will promote affordability and will benefit the spending power of families, said Al Nuaimi.
The price freeze will be monitored by inspectors who will make sure that outlets are complying with the agreement, and violators will face action.
Customers can file complaints directly with the Consumer Protection Department, said
Al Nuaimi.
Stocks must last
Participating outlets will have to ensure that stocks are available throughout the year and that the listed items are clearly displayed so that customers can identify them.
The ministry will also be monitoring small retailers who are taking advantage of the price freeze by buying items in bulk at locked rates in order to resell them individually at higher rates. The scheme to lock prices started in 2011.
