Business | Markets
Prices of basic items climb 12.43%
Prices of basic commodities in Abu Dhabi increased 12.43 per cent in July compared with June, according to the index generated by Abu Dhabi's Department of Planning and Economy (DPE).
- By Ahmed A. Elewa, Senior Reporter
- Published: 00:02 August 10, 2008
- Consumers at a market in Abu Dhabi. The Abu Dhabi Department of Planning and Economy has promised to monitor the prices of select commodities during Ramadan, which includes all the necessary household needs during the month, through a weekly special index and report.
- Image Credit: Gulf News archive
Abu Dhabi: Prices of basic commodities in Abu Dhabi increased 12.43 per cent in July compared with June, according to the index generated by Abu Dhabi's Department of Planning and Economy (DPE).
The index retreated marginally in the third week but ended the month on positive ground owing to the increasing prices of certain items, especially fish.
"Investigations by DPE revealed that the prices of fish have only gone up at the Abu Dhabi Cooperative Society (ADCS), where the fish outlet is leased to a private investor who is committed to pay ADCS 10 to 20 per cent," the department said in a statement.
The private investor rendered the rise in prices to the source, where he receives his stock from Dubai-based suppliers to provide the market with fish species that are not available elsewhere.
The increasing cost of ice, needed to preserve the fish longer in the hot months of summer, was also blamed.
The DPE has also been investigating reports claiming unjustified rises in the prices of rice throughout Abu Dhabi. The findings revealed a big difference in the prices at various outlets.
"For instance, the price of a five-kg pack of Pakistani Basmati rice in July was Dh37.95 to Dh42 at Fatima Supermarket, while in other outlets it was as high as Dh62," the department said in the statement.
"The department verified with Abu Dhabi National Foodstuff Company (Foodco) the supplier's price, which was Dh35.60, and accordingly Abu Dhabi Cooperative Society was approached and revised the prices down from Dh62 to Dh42.5," it said.
The differences in the prices of other items, such as spices, were justified by the difference in quality, it said.
The department has promised to monitor the prices of select commodities during Ramadan, which includes all household necessities during the month, through a weekly special index and report.
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