Carrefour 'locks' prices of over 200 essential items until the end of the year

Dubai: Carrefour, owned and operated by Majid Al Futtaim in the UAE, has announced it is freezing the prices of 200 everyday essentials until the end of the year.

Christophe Orcet, Head of Commercial and Operations of Carrefour at Majid Al Futtaim Retail, said in a media statement: “Our position as a leading retailer in the UAE gives us the valuable opportunity to support our communities. Understanding the economic concerns facing many families around the world, Carrefour remains committed to mitigating the effects of inflation through our various low-pricing strategies.

"With the help of our suppliers, we have been able to secure the prices on more than 200 products, whilst minimising our margins to ensure stabilisation. We hope this gives our customers the assurance of knowing that hundreds of daily necessities will stay at the same great price for months to come.”

Inflation is surging globally, with the rate in the euro-area hitting a record 10 per cent in September. In the US, inflation accelerated to a fresh 40-year high in September. Owing to this, global consumer goods companies have been hiking prices, the most recent hike being the biggest increase on record.

For UAE residents, the lock on prices would mean minimal impact from the global inflation trends. In a press statement, Carrefour said it negotiated with a huge range of suppliers to lock the prices on every-day necessities such as pasta, rice, cooking oil, ground coffee and sugar.

The new commitment comes, the company said, alongside the brand’s ongoing investment into price stabilisation, having reduced the margins on over 300 products throughout the year.