Tuesday, Mar 20, 2012
Gulf News
Abu Dhabi The consumer price index has recorded a rise in food prices, but retailers in the capital said yesterday that they had observed an actual stabilisation of these prices during the past year.
“The prices of food items have become more corrected, with the level of inflation becoming comparatively less severe within the supply chain,” Bejoy Thomas Pulickel, marketing and new initiatives manager at the Abu Dhabi Cooperative Society, told Gulf News.
Following a Ministry of Economy partnership with major retailers, the prices of more than 1,000 products, including rice, flour, juices and oils, have been fixed till the end of 2012.
Individual promotions by hypermarkets also allow residents to take advantage of the best bargains in the market, V. Nandakumar, head of corporate communications at the Lulu Hypermarkets, said.
“As the last link in delivering products to the consumer, retailers like us cannot always control a rise in prices that stems from the manufacturer.
“However, as hypermarkets, we must offer value for money to keep attracting residents to shop with us,” Nandakumar added.
In addition, a range of retailers’ own-label products, which are generally priced lower than market brands, are also available for sale, including bread, sugar and a host of non-food products.
“We have seen a 40 per cent increase in sales of these own-label items,” Nandakumar said.
Fall in prices
On the other hand, Pulickel added that the prices of clothing and many electronic items have fallen in recent times.
“With many regions of the world facing crises, producing countries are keeping prices reasonable to try and maintain consumption levels,” he said.
By Samia Badih?and Samihah Zaman?Staff Reporters
Gulf News 2012. All rights reserved.
