Food prices not expected to rise

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24 July 2008
Consumers in the UAE will be insulated against rises in the cost of basic foods despite recent global increases, says a top official.

Ministry of Economy Under-Secretary Mohammed Ahmed Abdulaziz Al Shihhi told Emirates Business that prices would not increase in the near future thanks to measures taken to ensure stability.

He was speaking after the US this week witnessed further rises in commodity prices, which are expected to be passed on to consumers there.

"We have been witnessing a surge in food prices all over the world due to many factors," said Al Shihhi.

"However the ministry has launched several initiatives to make sure the prices of basic foods are fixed in major supermarkets such as and as well as by all Co-operative societies."

But he said the prices of items not covered by the initiatives could go up because of global increases.

By Rana Jimaa

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