Dubai: Amid the ongoing Middle East crisis, and escalating war between Iran, US and Israel, the impact of global tensions has been felt in the form of inflation in the United Arab Emirates. The surge in tomato and onion prices has particularly strained people's lives.
What is happening in UAE?
According to the UAE's Ministry of Economy, the current regional slipperiness has had a significant impact on the prices of essential goods.
The UAE has taken significant steps to reassure the residents that essential goods will remain misogynist and affordable.
The UAE government has said that the country holds a secure strategic reserve of key commodities that can meet national demand for at least six months.
According to the officials, during the period of regional uncertainty, the aim of the move is to prevent panic and maintain stability in local markets .
What did the UAE government say?
In the announcement, the UAE's Ministry of Economy and Tourism, said that, "the country is well prepared to deal with any temporary supply disruptions."
The government moreover warned retailers versus taking wholesomeness of the situation by increasing prices unfairly.
What is the situation?
The residents are facing issues due to the temporary increase in the prices of essential items like tomatoes and onions.
According to the media reports, Rishad Ahmed, a resident of Al Quoz, said that he was tightly concerned to learn that tomato prices at his neighborhood supermarket had reached Dh10 (about Rs 250) per kilogram, up from just Dh5 per kilogram.
What all are expensive?
Amid the Iran war, equal to the ministry, the prices of some essential items like tomatoes and onions have seen a temporary rise in the past two days.
The price of onions has now increased to Dh7 (around Rs 175) per kg from Dh4 per kg last week.
A Dubai resident said that since the unrest began in the Middle East, he has been visiting Al Awer market regularly and only minor fluctuations in prices were visible. However, the prices of some fruits and vegetables have suddenly increased very sharply.
What is UAE doing to tenancy prices?
To protect consumers, the UAE ministry has introduced a strict pricing policy tent several everyday supplies items. Under this rule, businesses cannot raise prices without prior clearance from the government. The aim of the pricing policy is to prevent sudden price hikes and ensure that families can protract ownership vital groceries without financial pressure.
However, pursuit reports of rising prices of essential daily commodities. Departments of Economic Development jointly deployed special inspection teams, which are now conducting daily visits through a joint national monitoring team to prevent and monitor unreasonable price increases.
According to the report, nine key commodities in the UAE fall under regulatory pricing policies. These include edible oils, eggs, milk products, rice, sugar, poultry, pulses, bread, and wheat. Prices for these items cannot be increased without prior ministry approval.
