Business | Markets
Food prices spiralling ever faster in nation's stores
The UAE Ministry of Economy's consumer price index reflects global trend.
- By Irish Eden Belleza, Web Coordinator
- Published: 00:17 April 23, 2008
Dubai: While spiralling food prices are no longer news, the latest surveys show that they are accelerating at their fastest rates on a global scale, prompting the UN World Food Programme (WFP) to comment that the global phenomenon has become sort of a "silent tsunami", affecting every continent.
Click here to see the prices of selected commodities
The rate of food price inflation is making life increasingly difficult for millions of families. The trend has come as a blow to low-income families.
The latest consumer price index released by the UAE Ministry of Economy (MoE) indicates the trend of spiralling food prices.
At Carrefour in Dubai, the price of one kg of UAE short cucumber went up to Dh1.90 from last week's Dh1.55. LuLu offers the same product at Dh1.45.
Potatoes sourced from Saudi Arabia are sold at Al Ittihad Cooperative Society for Dh2.60 per kg, up from Dh1.95 last week, while Carrefour sells it for Dh2.85.
Other rates of the basic commodities for the rest of the stores covered by the ministry's weekly survey are not available.
The MoE collated the prices last Monday covering around 34 essential commodities.
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