Food price hike not on the table this year

Dubai: Food prices will not eat into your pocket this New Year. Thanks to a new government announcement, a price freeze on 500 food items is scheduled to start this year.

While rising rents remain a top concern for many UAE residents, grocery shopping budgets may stay the same over the next year. With a minimal increase in inflation rates over the past few months, the UAE consumer price index, which includes food and housing utilities, has increased by 0.11 per cent between September and October, an economist told Gulf News.

Looking back over the past quarter of 2014, prices of groceries such as meat, fruits, vegetables and dairy products have remained relatively constant.

Meanwhile, a slight increase of about 20-70 fils was noticed in the price of oil and water bottles in some stores.

Marginal increase

Despite being marginal, the price tweak in some food items is continuing to concern residents as their budget for groceries is forced to expand.

However, the worry may be over as experts predict

a decline in food prices this year.