Inflation is here to stay for some time

Dubai: There seems to be no respite from soaring prices in sight in the UAE. A recent report issued by the Dubai Chamber of Commerce and Industry says that prices collated this year have "indicated further worsening of food prices."

Yes, inflation is definitely here to stay. And there's no way you can beat it, unless of course - as discussed in the previous column - your income grows by the same ratio. However, you can take some steps to ease the squeeze. Here's how:

Comparison shop: This is a classic way to slash a huge chunk of your shopping bills. Let's say you're looking for a new washing machine.

When you scour the appliance stores to find the best deal, don't forget to check out the prices of other items on display as well. You will find out that Brand A at one shop is a lot cheaper than Brand A at another.

So, the next time you need to buy a new coffeemaker or microwave oven, you will know where to find the lowest price. A good comparison shopper knows which shop sells what product the cheapest.

Think hard before you buy: When it's time to replenish the stocks at home, list what you need and make sure you stick to it.

This way, you won't stuff your cart with items you don't really need. You will also reduce the number of trips to the store. So, you will save time, fuel and money.

Bargain: It pays to negotiate. Some shops lower their prices if a customer haggles for a better rate. This doesn't apply to hypermarkets or grocery stores normally, but when you buy certain dry goods, there's a lot of room to test your bargaining skills.

Hoard: This may be inflationary, but yes, large purchases can be good for your wallet in the long term.

If you think a dozen rolls of tissue, boxes of soap and other toiletries can last for a long time, buy them at once. Chances are, the next time you venture down the supermarket, those items have already jacked up their prices.

Shop with your friends: If you're living alone, making large purchases of certain items, especially perishable ones, may be impractical. But you can ask your friends to get together so you can buy in bulk.

Big packs of grocery items normally cost cheaper than individual-serving sizes. But if you can't consume 12 boxes of fresh milk in a week, maybe you and your five other friends can agree to buy a dozen of milk boxes together.

Learn to love house brands: These are items produced or packed by the supermarkets themselves. Since the middlemen are eliminated from the supply chain, these products offer the best prices.

Leave the credit cards at home: Pay cash when you go shopping. Plastic money only encourages impulse purchases. Plus you get to pay extra charges.

All of these require some hard work and a bit of discipline on your part. They mean downsizing the way you live. Who knows you might be able to make little savings that can add up to big bucks in the long run.