Prices have stabilised
This year seems to
have offered some respite to people with prices of necessities staying
relatively stable according to families surveyed by Gulf News,
especially with Ramadan approaching. An online spot poll showed that 17
per cent readers felt the prices of necessities have not increased
drastically over the past six months, especially compared to 2008. Five
per cent think they have decreased. The price list prepared by the
Ministry of Economy for 2009 appears to support these results. The year
has started to look better with some items becoming cheaper - residents
hope the trend stays.
"A stable 2009 allows for better budgeting"
2009 has proven to be
a good year for the Tabrez family in terms of food products, as the
prices have stopped increasing from last year.
Saadia Tabrez, an
Indian national residing in Sharjah, has been doing most of the grocery
shopping for her parents and sister since the beginning of this year
and has found that prices have remained the same.
She said: "Last year's
price hike was a shock to all of us. But I am relieved that this year
prices are at a stand still and especially now with the summer
promotions, some products are even cheaper."
Saadia's monthly cost
for vegetables, which mainly include potatoes, onions and tomatoes, has
stayed the same as the family's average expenditure on vegetables is
around Dh70 per month.
For some products the
prices have decreased since the beginning of the year. What Saadia used
to pay for a kilogram of rice in January is now Dh2 cheaper at Dh8.5.
However, this is due to the summer promotions.
For other products Saadia has noticed that their prices have stayed the same even after the price hikes in 2008.
She said: "The price
of 30 local white eggs [tray] has increased by Dh3 to Dh18 in 2008 and
thankfully has stayed the same till now."
Milk, water and
cooking oil prices have also stayed the same since the beginning of the
year at Dh10 per two-litre bottle, Dh7 for five gallons and Dh23 per
2.25 litres respectively.
Expert talk: Global impact means lower cost
Monica Malek, an economist based in Dubai, has noticed a marked reduction in food prices globally.
She said: "Since UAE
imports a lot, especially when it comes to food items, global
developments will definitely have an impact on prices."
Monica is convinced
that a lot of the reductions are a result of the global economic
condition. "There has been a fall in prices around the globe, and most
of the things are necessities," she said.
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