Kuwait sees significant increase in prices of goods

Dubai: Prices of goods, including food supplies, meat and livestock, have increased significantly in Kuwait recently due to the conflict in Ukraine, local media reported.

According to Al Jarida newspaper, which monitored the increase in prices of sheep in Shuwaikh, the increase in ‘safat’ sheep is manageable but consumers expressed fear of the prices increasing during Ramadan, especially against the backdrop of the Ukraine crisis.

Consumers appealed to Kuwaiti government to tighten control over prices, so that sheep breeders and merchants do not take advantage of Ramadan and ensure the prices are affordable for everyone.

A number of sellers in the sheep market in Shuwaikh told the newspaper that the increase in prices is currently minimum, and prices always change due to supply and demand, as the high demand for sheep, especially during the fasting season leads to an increase in prices. Consumers said the price of local sheep increased by 10 dinars per head according to size, weight and age.

Early this month, the Ministry of Commerce and Industry warned that firm legal action would be taken against any commodities’ dealer who raises prices drastically. 

The offenders will be referred to the authorities and their businesses would be shut instantly if they are found to have raised prices drastically. The ministry inspection teams have spread across the local markets to monitor the pricing.