To guarantee consumer safety, he said the government actively watches world consumer goods prices and contrasts them with local patterns to stop unjustified price hikes.

Al Saleh pointed out that, compared to world rates that soared as high as 5-6%, especially in food goods, the UAE's average annual inflation rate has been rather low, at 2.2%. The International Monetary Fund (IMF) forecasts global headline inflation for 2024 to average 5.8%, then to drop to 4.3% in 2025. Given a 2023 average consumer price index of 1.6%, UAE inflation is expected to be 2.3% in 2024 and 2.1% in 2025.

The UAE's dependence on food imports puts it under outside influence including natural disasters, geopolitical crises, and world transportation costs. Al Saleh underlined, meanwhile, that the government keeps a careful eye on global price trends to make sure local rates match them and avoid unwarranted rise.

To further price stability for basic consumer products, the UAE has developed a thorough pricing strategy. A cabinet decree limiting price increases for nine fundamental commodities—including cooking oil, eggs, dairy, rice, sugar, chicken, legumes, bread, and wheat—starting on January 2, 2025 will Any price change for these goods will need Ministry of Economy prior clearance.

Al Saleh underlined three important ministerial decisions taken under the new framework:

Decision No. 246 of 2024 is dedicated to tracking basic good prices.
Decision No. 245 of 2024 guarantees customers know the per-unit prices of basic goods.
Decision No. 247 of 2024 lays rules for optimal practices in supplier-retailer interactions to stop unnecessary price hikes.
Profit Margin Cap and Initiatives in Self-Reliance
To guarantee local pricing stability, the Ministry and the Higher Committee of Consumer Protection will have the power to impose limitations on profit margins for suppliers of these nine items as well as stores, Prices for non-essential goods will keep changing depending on dynamics of supply and demand.

The United Arab Emirates is also striving for more food and goods self-reliance. To minimize future interruptions and preserve price stability, the nation has given diversifying its sources and extending supply markets top priority post-COVID-19.

Under UAE legislation, non-compliance with pricing rules may lead to severe fines of up to Dh1 million and even closure of guilty companies, These harsh fines highlight the government's will to safeguard consumers and uphold market order.

Al Saleh said that every emirate would have specialized inspection teams to track market developments and enforce compliance. Should consumers believe violations exist, they can file complaints with either local governments or the Ministry of Economy. Likewise, traders or suppliers looking for price changes have to send thorough applications together with supporting data. Reviewing these applications within 30 days, extendable by another 15 days, the Ministry will then forward its recommendation to the Higher Committee of Consumer Protection.

The updated rules also stress pricing transparency. The program seeks to empower people to make wise buying decisions by making sure they know unit costs for basic items. Furthermore, rules controlling supplier-retailer contacts are meant to avoid conflicts influencing consumer prices.

UAE Monitors International Prices to Curb Unjustified Increases

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